Foundry Partners LLC Sells 3,680 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Foundry Partners LLC lowered its holdings in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 3.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,190 shares of the company's stock after selling 3,680 shares during the period. Foundry Partners LLC owned approximately 0.54% of Turning Point Brands worth $5,718,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Virtus Fund Advisers LLC acquired a new position in Turning Point Brands during the 4th quarter worth approximately $48,000. Sunbelt Securities Inc. acquired a new position in Turning Point Brands in the 4th quarter valued at approximately $96,000. Tower Research Capital LLC TRC increased its position in Turning Point Brands by 29.0% during the 4th 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 during the period. Baird Financial Group Inc. acquired a new stake in Turning Point Brands during the 4th quarter valued at approximately $201,000. Finally, Prescott General Partners LLC acquired a new stake in shares of Turning Point Brands during the fourth quarter worth $210,000. Institutional investors own 96.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Oppenheimer increased their price objective on shares of Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Wall Street Zen upgraded shares of Turning Point Brands from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $76.67.

Turning Point Brands Stock Up 0.5%

Shares of NYSE TPB traded up $0.42 during mid-day trading on Monday, reaching $78.56. 203,965 shares of the company's stock traded hands, compared to its average volume of 201,931. The stock has a market cap of $1.41 billion, a P/E ratio of 34.45 and a beta of 0.75. The business has a 50-day simple moving average of $74.15 and a 200 day simple moving average of $65.88. Turning Point Brands, Inc. has a 1-year low of $34.78 and a 1-year high of $81.25. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.42 and a quick ratio of 2.64.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $106.44 million during the quarter, compared to analysts' expectations of $95.75 million. Turning Point Brands had a net margin of 10.19% and a return on equity of 27.70%. The business's revenue was up 28.2% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. On average, analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 20th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Friday, June 20th. Turning Point Brands's payout ratio is currently 13.16%.

Insider Activity at Turning Point Brands

In other Turning Point Brands news, SVP Brittani Cushman sold 7,500 shares of Turning Point Brands stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $74.36, for a total value of $557,700.00. Following the sale, the senior vice president owned 34,687 shares of the company's stock, valued at approximately $2,579,325.32. The trade was a 17.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lawrence Wexler sold 25,000 shares of Turning Point Brands stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $75.94, for a total transaction of $1,898,500.00. Following the completion of the sale, the director directly owned 330,186 shares in the company, valued at approximately $25,074,324.84. This represents a 7.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,300 shares of company stock valued at $8,666,867 over the last three months. Insiders own 6.60% of the company's stock.

About Turning Point Brands

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.