Turning Point Brands, Inc. (NYSE:TPB) Holdings Boosted by Northern Trust Corp

Northern Trust Corp grew its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,386 shares of the company's stock after acquiring an additional 11,808 shares during the period. Northern Trust Corp owned about 0.91% of Turning Point Brands worth $9,639,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Tower Research Capital LLC TRC lifted 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 worth $142,000 after purchasing an additional 532 shares during the last quarter. Levin Capital Strategies L.P. bought a new position in shares of Turning Point Brands during the fourth quarter worth about $212,000. Entropy Technologies LP bought a new position in shares of Turning Point Brands during the fourth quarter worth about $234,000. AlphaQuest LLC lifted its position in shares of Turning Point Brands by 56.4% during the fourth quarter. AlphaQuest LLC now owns 4,131 shares of the company's stock worth $248,000 after purchasing an additional 1,490 shares during the last quarter. Finally, Semanteon Capital Management LP bought a new position in shares of Turning Point Brands during the fourth quarter worth about $271,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Turning Point Brands Stock Performance

Shares of TPB traded up $0.99 during mid-day trading on Friday, reaching $73.33. 129,425 shares of the company's stock traded hands, compared to its average volume of 169,848. Turning Point Brands, Inc. has a 12 month low of $30.61 and a 12 month high of $81.05. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The stock has a market capitalization of $1.31 billion, a P/E ratio of 29.10 and a beta of 0.69. The business's 50-day moving average price is $62.16 and its 200-day moving average price is $61.53.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $106.44 million for the quarter, compared to analyst estimates of $95.75 million. During the same quarter last year, the business earned $0.63 earnings per share. The business's revenue for the quarter was up 28.2% on a year-over-year basis. Equities analysts predict that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th will be given a $0.075 dividend. The ex-dividend date is Friday, June 20th. This represents a $0.30 annualized dividend and a yield of 0.41%. Turning Point Brands's dividend payout ratio (DPR) is 13.16%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TPB. Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a research report on Thursday, March 6th. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a report on Monday, March 3rd. They issued a "buy" rating and a $80.00 target price on the stock. 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 target price 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 analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $76.67.

Turning Point Brands 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.