Foundry Partners LLC Sells 2,737 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Foundry Partners LLC cut its stake in Turning Point Brands, Inc. (NYSE:TPB) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 214,453 shares of the company’s stock after selling 2,737 shares during the quarter. Foundry Partners LLC owned about 1.22% of Turning Point Brands worth $6,882,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Turning Point Brands by 6.6% in the first quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock worth $43,865,000 after buying an additional 92,147 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Turning Point Brands by 45.2% during the first quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock worth $7,481,000 after purchasing an additional 79,489 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Turning Point Brands by 5.1% during the second quarter. Bank of New York Mellon Corp now owns 134,855 shares of the company’s stock worth $4,327,000 after purchasing an additional 6,519 shares during the last quarter. Access Investment Management LLC bought a new stake in shares of Turning Point Brands during the fourth quarter worth $3,383,000. Finally, Sei Investments Co. lifted its position in shares of Turning Point Brands by 6.1% during the first quarter. Sei Investments Co. now owns 111,958 shares of the company’s stock worth $3,280,000 after purchasing an additional 6,470 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors.

Insider Activity

In other Turning Point Brands news, Director Lawrence Wexler sold 4,695 shares of Turning Point Brands stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $31.57, for a total value of $148,221.15. Following the transaction, the director now owns 367,701 shares in the company, valued at $11,608,320.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Turning Point Brands news, Director Lawrence Wexler sold 4,695 shares of Turning Point Brands stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $31.57, for a total value of $148,221.15. Following the transaction, the director now owns 367,701 shares in the company, valued at $11,608,320.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Summer Frein bought 2,260 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was bought at an average price of $30.96 per share, for a total transaction of $69,969.60. Following the purchase, the executive now directly owns 17,203 shares of the company’s stock, valued at $532,604.88. The disclosure for this purchase can be found here. Insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Benchmark reiterated a “buy” rating and set a $45.00 target price on shares of Turning Point Brands in a research report on Friday, August 2nd. StockNews.com upgraded Turning Point Brands from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 17th.

Turning Point Brands Stock Up 0.1 %

Shares of Turning Point Brands stock traded up $0.04 during trading on Friday, hitting $39.85. 53,691 shares of the stock traded hands, compared to its average volume of 114,326. The firm has a market cap of $702.24 million, a P/E ratio of 17.54 and a beta of 0.62. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. Turning Point Brands, Inc. has a 52-week low of $19.67 and a 52-week high of $40.66. The stock’s fifty day simple moving average is $37.04 and its 200 day simple moving average is $32.15.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.82 EPS for the quarter. The firm 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%.

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, September 13th. This represents a $0.28 annualized dividend and a dividend yield of 0.70%. Turning Point Brands’s dividend payout ratio is currently 12.33%.

Turning Point Brands 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.