Swiss National Bank Reduces Position in Turning Point Brands, Inc. (NYSE:TPB)

Swiss National Bank lessened its holdings in shares of Turning Point Brands, Inc. (NYSE:TPBFree Report) by 9.4% during the 4th quarter, HoldingsChannel reports. The fund owned 34,700 shares of the company’s stock after selling 3,600 shares during the quarter. Swiss National Bank’s holdings in Turning Point Brands were worth $913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Quadrature Capital Ltd boosted its stake in shares of Turning Point Brands by 7.4% during the 3rd quarter. Quadrature Capital Ltd now owns 14,899 shares of the company’s stock worth $344,000 after acquiring an additional 1,026 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Turning Point Brands by 5.5% during the 3rd quarter. Hsbc Holdings PLC now owns 39,918 shares of the company’s stock worth $923,000 after acquiring an additional 2,066 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in shares of Turning Point Brands by 26.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 12,580 shares of the company’s stock worth $331,000 after acquiring an additional 2,659 shares during the last quarter. Citigroup Inc. raised its position in shares of Turning Point Brands by 40.8% during the 3rd quarter. Citigroup Inc. now owns 22,126 shares of the company’s stock valued at $511,000 after purchasing an additional 6,410 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of Turning Point Brands during the 3rd quarter valued at $296,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Insider Transactions at Turning Point Brands

In other Turning Point Brands news, insider Plano Lorenzo De bought 15,043 shares of Turning Point Brands stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $27.97 per share, for a total transaction of $420,752.71. Following the acquisition, the insider now directly owns 31,375 shares in the company, valued at approximately $877,558.75. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.20% of the company’s stock.

Turning Point Brands Stock Performance

Shares of NYSE TPB opened at $32.47 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.59 and a current ratio of 2.55. The company has a market cap of $572.12 million, a P/E ratio of 14.30 and a beta of 0.50. The firm’s fifty day moving average is $30.27 and its two-hundred day moving average is $26.66. Turning Point Brands, Inc. has a 52-week low of $19.67 and a 52-week high of $34.71.

Turning Point Brands (NYSE:TPBGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $0.72 earnings per share for the quarter. Turning Point Brands had a net margin of 10.68% and a return on equity of 37.62%. The firm had revenue of $97.06 million for the quarter.

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.86%. Turning Point Brands’s dividend payout ratio (DPR) is presently 12.33%.

Analyst Ratings Changes

TPB has been the topic of several recent analyst reports. Benchmark raised their price objective on shares of Turning Point Brands from $34.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. StockNews.com upgraded shares of Turning Point Brands from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 17th.

Read Our Latest Report on Turning Point Brands

Turning Point Brands Profile

(Free Report)

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.

Featured Stories

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

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