Ameriprise Financial Inc. Invests $957,000 in Turning Point Brands, Inc. (NYSE:TPB)

Ameriprise Financial Inc. acquired a new stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,917 shares of the company's stock, valued at approximately $957,000. Ameriprise Financial Inc. owned about 0.09% of Turning Point Brands as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in TPB. Entropy Technologies LP bought a new position in shares of Turning Point Brands during the 4th quarter worth approximately $234,000. Northern Trust Corp lifted its stake in shares of Turning Point Brands by 7.9% during the 4th quarter. Northern Trust Corp now owns 160,386 shares of the company's stock worth $9,639,000 after buying an additional 11,808 shares during the last quarter. Legato Capital Management LLC acquired a new stake in Turning Point Brands during the fourth quarter worth approximately $278,000. Principal Financial Group Inc. boosted its stake in Turning Point Brands by 7.1% in the 4th quarter. Principal Financial Group Inc. now owns 7,247 shares of the company's stock valued at $436,000 after purchasing an additional 482 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Turning Point Brands by 2,339.9% in the fourth quarter. Russell Investments Group Ltd. now owns 24,985 shares of the company's stock valued at $1,502,000 after acquiring an additional 23,961 shares during the period. 96.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 1,500 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $73.64, for a total transaction of $110,460.00. Following the completion of the transaction, the director now owns 40,419 shares of the company's stock, valued at approximately $2,976,455.16. This trade represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Brian Wigginton sold 3,500 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $75.75, for a total transaction of $265,125.00. Following the completion of the transaction, the chief accounting officer now owns 10,171 shares in the company, valued at approximately $770,453.25. This represents a 25.60% decrease in their position. The disclosure for this sale can be found here. 6.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TPB shares. Alliance Global Partners started coverage on Turning Point Brands in a research note on Monday, March 3rd. They set a "buy" rating and a $80.00 price objective on the stock. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a research note on Thursday, March 6th. Wall Street Zen raised shares of Turning Point Brands from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Finally, Oppenheimer raised their price target on shares of Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $76.67.

Turning Point Brands Price Performance

Shares of TPB stock traded down $1.13 on Tuesday, reaching $74.34. The company's stock had a trading volume of 187,217 shares, compared to its average volume of 172,805. Turning Point Brands, Inc. has a 12-month low of $30.61 and a 12-month high of $81.05. The stock's 50 day simple moving average is $64.28 and its 200-day simple moving average is $62.61. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $1.33 billion, a P/E ratio of 29.50 and a beta of 0.69.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.16. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The company had revenue of $106.44 million during the quarter, compared to analyst estimates of $95.75 million. During the same period in the previous year, the business earned $0.63 earnings per share. The firm's quarterly revenue was up 28.2% compared to the same quarter last year. As a group, equities analysts predict that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 20th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $0.30 dividend on an annualized basis and a yield of 0.40%. Turning Point Brands's dividend payout ratio is presently 13.16%.

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.