Sei Investments Co. Has $3.10 Million Stock Position in Turning Point Brands, Inc. (NYSE:TPB)

Sei Investments Co. cut its stake in Turning Point Brands, Inc. (NYSE:TPB) by 13.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,622 shares of the company’s stock after selling 15,336 shares during the period. Sei Investments Co.’s holdings in Turning Point Brands were worth $3,101,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hsbc Holdings PLC grew its position in Turning Point Brands by 10.6% in the fourth quarter. Hsbc Holdings PLC now owns 44,164 shares of the company’s stock valued at $1,165,000 after acquiring an additional 4,246 shares during the period. Harspring Capital Management LLC bought a new stake in shares of Turning Point Brands in the 4th quarter worth about $2,101,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Turning Point Brands during the 1st quarter worth about $64,000. BNP Paribas Financial Markets lifted its holdings in Turning Point Brands by 6.8% during the 1st quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock valued at $532,000 after purchasing an additional 1,159 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Turning Point Brands in the first quarter valued at about $1,587,000. Institutional investors own 96.12% of the company’s stock.

Insider Buying and Selling

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the sale, the director now owns 46,544 shares of the company’s stock, valued at approximately $1,834,764.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.20% of the stock is currently owned by insiders.

Turning Point Brands Stock Down 3.3 %

NYSE:TPB opened at $41.21 on Friday. The company has a market cap of $726.20 million, a price-to-earnings ratio of 18.15 and a beta of 0.62. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80. The stock’s fifty day moving average price is $39.39 and its two-hundred day moving average price is $34.33. Turning Point Brands, Inc. has a 52-week low of $19.67 and a 52-week high of $43.25.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.82 earnings per share (EPS) for the quarter. The business had revenue of $108.51 million for the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. On average, analysts anticipate that Turning Point Brands, Inc. will post 2.68 EPS for the current year.

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Friday, September 13th. Turning Point Brands’s dividend payout ratio (DPR) is presently 12.33%.

Analyst Ratings Changes

Several research firms have recently weighed in on TPB. Roth Mkm initiated coverage on shares of Turning Point Brands in a report on Thursday, September 19th. They set a “buy” rating and a $50.00 price objective for the company. StockNews.com lowered Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Benchmark reissued a “buy” rating and set a $45.00 price objective on shares of Turning Point Brands in a report on Friday, August 2nd.

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.