Allspring Global Investments Holdings LLC Lowers Stake in Turning Point Brands, Inc. (NYSE:TPB)

Allspring Global Investments Holdings LLC lowered its position in shares of Turning Point Brands, Inc. (NYSE:TPBGet Rating) by 6.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 58,808 shares of the company’s stock after selling 3,829 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Turning Point Brands were worth $1,248,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TPB. Swiss National Bank lifted its holdings in shares of Turning Point Brands by 6.0% in the first quarter. Swiss National Bank now owns 33,500 shares of the company’s stock worth $1,139,000 after buying an additional 1,900 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Turning Point Brands by 88.3% in the first quarter. JPMorgan Chase & Co. now owns 69,405 shares of the company’s stock worth $2,360,000 after buying an additional 32,550 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Turning Point Brands by 3.8% during the first quarter. Bank of New York Mellon Corp now owns 71,594 shares of the company’s stock valued at $2,435,000 after purchasing an additional 2,609 shares in the last quarter. MetLife Investment Management LLC raised its stake in Turning Point Brands by 58.5% during the first quarter. MetLife Investment Management LLC now owns 8,903 shares of the company’s stock valued at $303,000 after purchasing an additional 3,286 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Turning Point Brands by 3.0% during the first quarter. Rhumbline Advisers now owns 14,808 shares of the company’s stock valued at $504,000 after purchasing an additional 426 shares in the last quarter. Hedge funds and other institutional investors own 83.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TPB shares. StockNews.com downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, January 11th. Craig Hallum cut their price objective on shares of Turning Point Brands to $35.00 in a research report on Thursday, October 20th. Finally, Barclays cut shares of Turning Point Brands from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $28.00 to $22.00 in a research report on Monday, October 10th.

Turning Point Brands Trading Up 3.1 %

NYSE TPB opened at $22.73 on Friday. The company’s 50-day moving average price is $21.19 and its 200-day moving average price is $22.80. The company has a current ratio of 6.11, a quick ratio of 3.39 and a debt-to-equity ratio of 3.19. The stock has a market cap of $399.23 million, a PE ratio of 11.25 and a beta of 0.50. Turning Point Brands, Inc. has a 12 month low of $18.81 and a 12 month high of $36.99.

Turning Point Brands (NYSE:TPBGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.16. The firm had revenue of $107.80 million for the quarter. Turning Point Brands had a net margin of 9.45% and a return on equity of 42.74%. Equities research analysts forecast that Turning Point Brands, Inc. will post 2.28 earnings per share for the current year.

Turning Point Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Friday, December 16th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, December 15th. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.88%.

Turning Point Brands Company Profile

(Get Rating)

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 NewGen Products. The Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products under the Zig-Zag brand.

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Institutional Ownership by Quarter for Turning Point Brands (NYSE:TPB)

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