Voya Investment Management LLC Increases Stock Position in Turning Point Brands, Inc. $TPB

Voya Investment Management LLC lifted its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 20.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,933 shares of the company's stock after buying an additional 3,187 shares during the quarter. Voya Investment Management LLC owned about 0.11% of Turning Point Brands worth $1,125,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TPB. Sunbelt Securities Inc. purchased a new stake in shares of Turning Point Brands during the 4th quarter valued at approximately $96,000. IFP Advisors Inc increased its holdings in Turning Point Brands by 97,250.0% during the 1st quarter. IFP Advisors Inc now owns 3,894 shares of the company's stock worth $231,000 after acquiring an additional 3,890 shares during the period. ProShare Advisors LLC bought a new stake in Turning Point Brands during the 4th quarter worth approximately $290,000. Versor Investments LP bought a new stake in Turning Point Brands during the 1st quarter worth approximately $291,000. Finally, Arizona State Retirement System increased its holdings in Turning Point Brands by 4.1% during the 1st quarter. Arizona State Retirement System now owns 5,083 shares of the company's stock worth $302,000 after acquiring an additional 199 shares during the period. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Brands Price Performance

Shares of NYSE:TPB opened at $103.05 on Wednesday. The company's fifty day moving average price is $93.42 and its 200-day moving average price is $76.05. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 43.12 and a beta of 0.76. Turning Point Brands, Inc. has a one year low of $40.35 and a one year high of $104.76. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.22 and a quick ratio of 2.67.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.19. Turning Point Brands had a net margin of 10.34% and a return on equity of 25.32%. The firm had revenue of $116.63 million for the quarter, compared to analyst estimates of $107.30 million. During the same quarter in the prior year, the firm earned $0.68 EPS. The business's revenue for the quarter was up 25.1% compared to the same quarter last year. On average, equities research analysts anticipate that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 19th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a $0.30 annualized dividend and a dividend yield of 0.3%. Turning Point Brands's dividend payout ratio (DPR) is currently 12.55%.

Analyst Upgrades and Downgrades

TPB has been the topic of a number of analyst reports. Zacks Research lowered shares of Turning Point Brands from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. Needham & Company LLC initiated coverage on shares of Turning Point Brands in a report on Friday, August 1st. They set a "hold" rating on the stock. Oppenheimer upped their target price on shares of Turning Point Brands from $85.00 to $98.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, Wall Street Zen lowered shares of Turning Point Brands from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $78.83.

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.

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