Baader Bank Aktiengesellschaft Sells 3,543 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Baader Bank Aktiengesellschaft lowered its position in Turning Point Brands, Inc. (NYSE:TPB) by 21.4% during the fourth quarter, Holdings Channel reports. The firm owned 13,000 shares of the company’s stock after selling 3,543 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Turning Point Brands were worth $781,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TPB. First Sabrepoint Capital Management LP bought a new position in Turning Point Brands during the third quarter worth $7,517,000. JPMorgan Chase & Co. raised its position in shares of Turning Point Brands by 84.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock worth $5,311,000 after acquiring an additional 56,364 shares in the last quarter. 272 Capital LP acquired a new position in shares of Turning Point Brands in the 3rd quarter valued at about $1,488,000. Pekin Hardy Strauss Inc. bought a new stake in shares of Turning Point Brands during the 3rd quarter valued at about $1,260,000. Finally, Millennium Management LLC grew its stake in Turning Point Brands by 14.1% during the second quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock worth $5,724,000 after purchasing an additional 22,035 shares during the period. 96.12% of the stock is owned by institutional investors.

Turning Point Brands Stock Performance

TPB opened at $62.95 on Friday. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 24.98 and a beta of 0.66. The company’s fifty day moving average price is $59.68 and its two-hundred day moving average price is $48.42. Turning Point Brands, Inc. has a 1-year low of $21.98 and a 1-year high of $66.18. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results 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. The business had revenue of $105.62 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 EPS. On average, analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 20th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.28 annualized dividend and a yield of 0.44%. Turning Point Brands’s dividend payout ratio (DPR) is currently 11.11%.

Analyst Upgrades and Downgrades

TPB has been the topic of several recent analyst reports. Oppenheimer initiated coverage on Turning Point Brands in a research note on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price target on the stock. StockNews.com raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Monday. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Craig Hallum increased their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $70.00 target price on shares of Turning Point Brands in a research report on Friday, January 10th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $68.75.

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.