Turning Point Brands, Inc. (NYSE:TPB) Position Boosted by Nuveen Asset Management LLC

Nuveen Asset Management LLC lifted its holdings in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 21.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,083 shares of the company's stock after purchasing an additional 33,080 shares during the period. Nuveen Asset Management LLC owned about 1.07% of Turning Point Brands worth $11,364,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its stake 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 worth $142,000 after buying an additional 532 shares in the last quarter. Baird Financial Group Inc. purchased a new stake in Turning Point Brands during the 4th quarter worth approximately $201,000. Levin Capital Strategies L.P. purchased a new stake in Turning Point Brands during the 4th quarter worth approximately $212,000. Entropy Technologies LP purchased a new stake in Turning Point Brands during the 4th quarter worth approximately $234,000. Finally, AlphaQuest LLC increased its holdings in shares of Turning Point Brands by 56.4% in the fourth quarter. AlphaQuest LLC now owns 4,131 shares of the company's stock valued at $248,000 after purchasing an additional 1,490 shares during the last quarter. Hedge funds and other institutional investors own 96.12% of the company's stock.

Turning Point Brands Stock Performance

Shares of NYSE TPB traded up $1.75 during midday trading on Friday, reaching $74.43. 220,028 shares of the company were exchanged, compared to its average volume of 172,249. 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, Inc. has a 1 year low of $30.61 and a 1 year high of $81.05. The stock has a fifty day simple moving average of $63.96 and a 200 day simple moving average of $62.51. The stock has a market cap of $1.33 billion, a P/E ratio of 29.54 and a beta of 0.69.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced 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 firm had revenue of $106.44 million during the quarter, compared to the consensus estimate of $95.75 million. During the same quarter last year, the firm earned $0.63 earnings per share. The firm's revenue was up 28.2% compared to the same quarter last year. On average, research analysts forecast that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 20th will be given 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 dividend yield of 0.40%. Turning Point Brands's payout ratio is 13.16%.

Analyst Upgrades and Downgrades

TPB has been the topic of a number of recent research reports. Alliance Global Partners initiated 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. Oppenheimer increased their price objective on Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a research report on Thursday, March 6th. Finally, Wall Street Zen upgraded Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Six equities research 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 a consensus rating of "Buy" and an average price target of $76.67.

Insider Activity

In other Turning Point Brands 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 value of $110,460.00. Following the completion of the transaction, the director now directly owns 40,419 shares in the company, valued at approximately $2,976,455.16. The trade was a 3.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Brian Wigginton sold 3,500 shares of the company's stock in a transaction on 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 owns 10,171 shares of the company's stock, valued at approximately $770,453.25. The trade was a 25.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.60% of the company's stock.

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.