Turning Point Brands, Inc. (NYSE:TPB) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 122.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,804 shares of the company's stock after buying an additional 67,005 shares during the period. Teacher Retirement System of Texas owned 0.69% of Turning Point Brands worth $7,240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of TPB. Principal Financial Group Inc. lifted its holdings in shares of Turning Point Brands by 7.1% during 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 last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Turning Point Brands by 40.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company's stock valued at $12,243,000 after purchasing an additional 58,425 shares during the last quarter. AlphaQuest LLC lifted its holdings in shares of Turning Point Brands by 56.4% during the 4th 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. Moran Wealth Management LLC lifted its holdings in shares of Turning Point Brands by 16.4% during the 4th quarter. Moran Wealth Management LLC now owns 6,368 shares of the company's stock valued at $383,000 after purchasing an additional 897 shares during the last quarter. Finally, King Luther Capital Management Corp purchased a new stake in shares of Turning Point Brands during the 4th quarter valued at $1,374,000. Hedge funds and other institutional investors own 96.12% of the company's stock.

Analysts Set New Price Targets

TPB has been the subject of several analyst reports. Wall Street Zen upgraded Turning Point Brands from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Oppenheimer increased their price objective on Turning Point Brands from $65.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $76.67.

Turning Point Brands Trading Up 1.7%

NYSE TPB traded up $1.23 during trading on Friday, hitting $73.87. The stock had a trading volume of 122,040 shares, compared to its average volume of 192,248. The company has a market capitalization of $1.32 billion, a PE ratio of 32.40 and a beta of 0.75. The company has a quick ratio of 2.64, a current ratio of 4.42 and a debt-to-equity ratio of 1.44. The firm has a 50 day moving average price of $72.49 and a 200 day moving average price of $64.74. Turning Point Brands, Inc. has a twelve month low of $33.35 and a twelve month high of $81.25.

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, topping analysts' consensus estimates of $0.75 by $0.16. The business had revenue of $106.44 million during the quarter, compared to the consensus estimate of $95.75 million. Turning Point Brands had a return on equity of 27.70% and a net margin of 10.19%. The business's revenue for the quarter was up 28.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. As a group, equities research analysts forecast that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 20th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, June 20th. Turning Point Brands's payout ratio is 13.16%.

Insider Buying and Selling

In other Turning Point Brands news, CAO Brian Wigginton sold 10,800 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.67, for a total value of $817,236.00. Following the completion of the sale, the chief accounting officer owned 10,171 shares in the company, valued at approximately $769,639.57. The trade was a 51.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen Usher sold 600 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $75.25, for a total value of $45,150.00. Following the completion of the sale, the director owned 6,175 shares of the company's stock, valued at approximately $464,668.75. This represents a 8.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,300 shares of company stock valued at $8,666,867 in the last 90 days. Company 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.