Turning Point Brands, Inc. (NYSE:TPB) Position Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in Turning Point Brands, Inc. (NYSE:TPB) by 20.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,765 shares of the company’s stock after selling 1,691 shares during the quarter. Principal Financial Group Inc.’s holdings in Turning Point Brands were worth $292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TPB. Copeland Capital Management LLC purchased a new stake in shares of Turning Point Brands during the 3rd quarter worth about $61,000. Allspring Global Investments Holdings LLC increased its holdings in Turning Point Brands by 72,406.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 10,876 shares of the company’s stock worth $469,000 after buying an additional 10,861 shares during the last quarter. SG Americas Securities LLC raised its position in Turning Point Brands by 154.7% during the third quarter. SG Americas Securities LLC now owns 10,261 shares of the company’s stock valued at $443,000 after acquiring an additional 6,233 shares in the last quarter. Aristides Capital LLC lifted its stake in Turning Point Brands by 6.3% in the second quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock valued at $6,514,000 after acquiring an additional 12,041 shares during the last quarter. Finally, Algert Global LLC grew its position in Turning Point Brands by 3.9% in the second quarter. Algert Global LLC now owns 115,970 shares of the company’s stock worth $3,721,000 after acquiring an additional 4,388 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Analysts Set New Price Targets

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

Turning Point Brands Stock Down 2.5 %

TPB stock opened at $61.09 on Tuesday. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 24.44 and a beta of 0.63. The company has a 50-day moving average of $46.86 and a two-hundred day moving average of $39.52. Turning Point Brands, Inc. has a 52-week low of $21.98 and a 52-week high of $63.51. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.

Turning Point Brands (NYSE:TPB) last announced its 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 firm had revenue of $105.62 million during the quarter, compared to the consensus estimate of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 EPS. As a group, equities research analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, December 20th. Turning Point Brands’s dividend payout ratio is currently 11.11%.

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.