UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stake in Turning Point Brands, Inc. (NYSE:TPB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 115.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,068 shares of the company's stock after acquiring an additional 12,364 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.13% of Turning Point Brands worth $1,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Right Capital Management L.P. grew its holdings in shares of Turning Point Brands by 356.6% in the fourth quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company's stock valued at $8,075,000 after purchasing an additional 104,931 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Turning Point Brands by 36.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company's stock worth $19,145,000 after buying an additional 84,552 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Turning Point Brands by 205.8% during the 4th quarter. Invesco Ltd. now owns 97,261 shares of the company's stock valued at $5,845,000 after buying an additional 65,457 shares during the period. Portolan Capital Management LLC acquired a new stake in shares of Turning Point Brands in the 4th quarter valued at about $3,817,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Turning Point Brands by 40.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company's stock worth $12,243,000 after purchasing an additional 58,425 shares during the last quarter. Hedge funds and other institutional investors own 96.12% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on TPB. Oppenheimer raised their price target 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. Alliance Global Partners started coverage on Turning Point Brands in a research note on Monday, March 3rd. They set a "buy" rating and a $80.00 price target on the stock. Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a research note on Thursday, March 6th. Finally, Wall Street Zen raised shares of Turning Point Brands from a "hold" rating to a "buy" rating in a research 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 data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $76.67.

Turning Point Brands Trading Up 2.0%

Shares of TPB stock opened at $76.22 on Monday. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $1.36 billion, a P/E ratio of 30.24 and a beta of 0.76. Turning Point Brands, Inc. has a 12-month low of $30.61 and a 12-month high of $81.05. The firm's 50 day moving average is $65.54 and its 200 day moving average is $62.99.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.16. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The business had revenue of $106.44 million during the quarter, compared to analyst estimates of $95.75 million. During the same quarter in the previous year, the business earned $0.63 earnings per share. The company's revenue for the quarter was up 28.2% compared to the same quarter last year. Research analysts expect 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 will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Friday, June 20th. Turning Point Brands's dividend payout ratio (DPR) is 13.16%.

Insider Activity at Turning Point Brands

In other news, Director Gregory H.A. Baxter sold 1,500 shares of the stock in a transaction dated Friday, May 9th. The shares were 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 owns 40,419 shares in the company, valued at $2,976,455.16. This trade represents a 3.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Brian Wigginton sold 3,500 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $75.75, for a total transaction of $265,125.00. Following the sale, the chief accounting officer now directly owns 10,171 shares in the company, valued at $770,453.25. This represents a 25.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,600 shares of company stock worth $1,539,885. 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.

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