Turning Point Brands, Inc. (NYSE:TPB) Shares Purchased by Barclays PLC

Barclays PLC raised its stake in Turning Point Brands, Inc. (NYSE:TPB) by 298.6% during the third quarter, Holdings Channel reports. The firm owned 29,274 shares of the company’s stock after purchasing an additional 21,930 shares during the period. Barclays PLC’s holdings in Turning Point Brands were worth $1,262,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Martingale Asset Management L P increased its position in Turning Point Brands by 1.4% during the 3rd quarter. Martingale Asset Management L P now owns 24,686 shares of the company’s stock worth $1,065,000 after purchasing an additional 329 shares in the last quarter. Marshall Wace LLP increased its position in shares of Turning Point Brands by 0.3% in the second quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock worth $3,849,000 after acquiring an additional 367 shares in the last quarter. Copeland Capital Management LLC purchased a new position in shares of Turning Point Brands in the 3rd quarter valued at $61,000. Stifel Financial Corp lifted its holdings in shares of Turning Point Brands by 6.8% during the 3rd quarter. Stifel Financial Corp now owns 25,646 shares of the company’s stock valued at $1,107,000 after acquiring an additional 1,634 shares in the last quarter. Finally, XTX Topco Ltd boosted its position in Turning Point Brands by 16.2% during the 2nd quarter. XTX Topco Ltd now owns 12,300 shares of the company’s stock worth $395,000 after purchasing an additional 1,714 shares during the period. 96.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TPB shares. Roth Mkm restated a “buy” rating and issued a $70.00 price target on shares of Turning Point Brands in a report on Friday. Craig Hallum raised their price target on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Oppenheimer began coverage on Turning Point Brands in a research note on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price for the company. Finally, StockNews.com upgraded Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Turning Point Brands currently has a consensus rating of “Buy” and an average price target of $68.75.

Turning Point Brands Trading Up 1.3 %

Turning Point Brands stock opened at $55.80 on Tuesday. Turning Point Brands, Inc. has a 1 year low of $21.98 and a 1 year high of $66.18. The firm’s 50 day moving average price is $59.14 and its two-hundred day moving average price is $46.51. The firm has a market cap of $987.49 million, a price-to-earnings ratio of 22.14 and a beta of 0.66. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21.

Turning Point Brands (NYSE:TPB) last released its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $105.62 million during the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 earnings per share. On average, research analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, December 20th. This represents a $0.28 annualized dividend and a yield of 0.50%. Turning Point Brands’s dividend payout ratio (DPR) is currently 11.11%.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.