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

Turning Point Brands logo with Consumer Staples background

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.

Check Out Our Latest Stock Report on Turning Point Brands

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

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Turning Point Brands (NYSE:TPB)

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