Turning Point Brands, Inc. (NYSE:TPB) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG boosted its stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 49.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,305 shares of the company's stock after purchasing an additional 5,405 shares during the period. Deutsche Bank AG owned about 0.09% of Turning Point Brands worth $980,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Sei Investments Co. increased its stake in shares of Turning Point Brands by 0.4% during the fourth quarter. Sei Investments Co. now owns 78,087 shares of the company's stock valued at $4,693,000 after buying an additional 283 shares during the period. Principal Financial Group Inc. boosted its position in shares of Turning Point Brands by 7.1% during the fourth 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 in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Turning Point Brands by 29.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock valued at $142,000 after purchasing an additional 532 shares in the last quarter. Access Investment Management LLC boosted its position in shares of Turning Point Brands by 0.4% during the fourth quarter. Access Investment Management LLC now owns 122,125 shares of the company's stock valued at $7,340,000 after purchasing an additional 540 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Turning Point Brands by 6.0% during the fourth quarter. MetLife Investment Management LLC now owns 10,373 shares of the company's stock valued at $623,000 after purchasing an additional 587 shares in the last quarter. 96.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Turning Point Brands Stock Up 2.4%

Shares of NYSE:TPB traded up $1.75 on Friday, reaching $74.43. The company had a trading volume of 220,028 shares, compared to its average volume of 172,249. Turning Point Brands, Inc. has a 52-week low of $30.61 and a 52-week high of $81.05. The firm's 50 day simple moving average is $63.96 and its 200-day simple moving average is $62.47. The firm has a market capitalization of $1.33 billion, a PE ratio of 29.54 and a beta of 0.69. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.16. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The business had revenue of $106.44 million for the quarter, compared to the consensus estimate of $95.75 million. During the same period last year, the business posted $0.63 EPS. The business's revenue was up 28.2% compared to the same quarter last year. As a group, analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 20th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $0.30 annualized dividend and a yield of 0.40%. Turning Point Brands's dividend payout ratio (DPR) is 13.16%.

Insider Buying and Selling

In related news, Director Gregory H.A. Baxter sold 1,500 shares of the business'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 transaction, the director now directly owns 40,419 shares in the company, valued at $2,976,455.16. The trade was a 3.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Brian Wigginton sold 3,500 shares of Turning Point Brands stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $75.75, for a total value of $265,125.00. Following the sale, the chief accounting officer now directly owns 10,171 shares of the company's stock, 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 owned by company insiders.

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.