Turning Point Brands, Inc. (NYSE:TPB) Stock Holdings Lifted by Martingale Asset Management L P

Martingale Asset Management L P lifted its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 1.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 24,686 shares of the company’s stock after buying an additional 329 shares during the quarter. Martingale Asset Management L P’s holdings in Turning Point Brands were worth $1,065,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of TPB. Vanguard Group Inc. lifted its position in Turning Point Brands by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock valued at $43,865,000 after purchasing an additional 92,147 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Turning Point Brands in the first quarter worth approximately $48,000. Price T Rowe Associates Inc. MD increased 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 acquiring an additional 800 shares in the last quarter. Comerica Bank grew its position in Turning Point Brands by 22,417.6% during the first quarter. Comerica Bank now owns 7,656 shares of the company’s stock valued at $224,000 after purchasing an additional 7,622 shares in the last quarter. Finally, Boston Partners purchased a new position in Turning Point Brands during the first quarter valued at approximately $964,000. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Stock Up 0.8 %

TPB opened at $61.90 on Monday. The firm’s 50-day simple moving average is $49.03 and its 200-day simple moving average is $40.50. 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, Inc. has a twelve month low of $21.98 and a twelve month high of $63.51. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 24.56 and a beta of 0.63.

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

Turning Point Brands Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TPB shares. Roth Mkm began coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They set a “buy” rating and a $50.00 price objective on the stock. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. StockNews.com lowered shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 24th. Oppenheimer initiated coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price on the stock. Finally, Benchmark boosted their price target on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $60.00.

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.