ArrowMark Colorado Holdings LLC Sells 534,000 Shares of Turning Point Brands, Inc. (NYSE:TPB)

ArrowMark Colorado Holdings LLC lowered its stake in shares of Turning Point Brands, Inc. (NYSE:TPB) by 51.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 498,708 shares of the company’s stock after selling 534,000 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 2.82% of Turning Point Brands worth $21,519,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TPB. Martingale Asset Management L P grew its stake in shares of 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 acquiring an additional 329 shares during the period. Marshall Wace LLP lifted its stake in Turning Point Brands by 0.3% in the 2nd quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock worth $3,849,000 after purchasing an additional 367 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Turning Point Brands by 8.9% in the 2nd quarter. Principal Financial Group Inc. now owns 8,456 shares of the company’s stock valued at $271,000 after purchasing an additional 693 shares during the period. Access Investment Management LLC grew its position in shares of Turning Point Brands by 0.6% during the 2nd quarter. Access Investment Management LLC now owns 121,385 shares of the company’s stock valued at $3,895,000 after purchasing an additional 745 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Turning Point Brands by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,637 shares of the company’s stock worth $371,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Trading Up 0.8 %

Shares of TPB opened at $61.90 on Monday. Turning Point Brands, Inc. has a 1-year low of $21.98 and a 1-year high of $63.51. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The firm’s 50-day moving average price is $49.03 and its 200-day moving average price is $40.50. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 24.56 and a beta of 0.63.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The business had revenue of $105.62 million for the quarter, compared to analysts’ expectations of $100.71 million. During the same period in the previous year, the firm posted $0.69 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, December 20th. Turning Point Brands’s dividend payout ratio is presently 11.11%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Roth Mkm assumed coverage on Turning Point Brands in a research report on Thursday, September 19th. They issued a “buy” rating and a $50.00 target price for the company. Oppenheimer initiated coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 target price on the stock. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. StockNews.com downgraded Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 24th. Finally, Benchmark increased their target price on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Turning Point Brands presently has a consensus rating of “Buy” and an average price target of $60.00.

About Turning Point Brands

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.