First Trust Advisors LP Has $3.45 Million Stock Holdings in Turning Point Brands, Inc. (NYSE:TPB)

First Trust Advisors LP lessened its holdings in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 7.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 57,421 shares of the company's stock after selling 4,782 shares during the period. First Trust Advisors LP owned about 0.32% of Turning Point Brands worth $3,451,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its position in shares of Turning Point Brands by 36.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company's stock valued at $19,145,000 after acquiring an additional 84,552 shares during the period. Invesco Ltd. boosted its holdings in Turning Point Brands by 205.8% in the 4th quarter. Invesco Ltd. now owns 97,261 shares of the company's stock worth $5,845,000 after buying an additional 65,457 shares during the last quarter. Portolan Capital Management LLC acquired a new stake in Turning Point Brands during the fourth quarter worth about $3,817,000. Charles Schwab Investment Management Inc. raised its holdings in 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 valued at $12,243,000 after buying an additional 58,425 shares during the period. Finally, EAM Investors LLC lifted its stake in Turning Point Brands by 205.8% during the fourth quarter. EAM Investors LLC now owns 83,847 shares of the company's stock worth $5,039,000 after purchasing an additional 56,429 shares in the last quarter. 96.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of Turning Point Brands from a "buy" rating to a "hold" rating in a report on Tuesday. Oppenheimer boosted their price objective on shares of Turning Point Brands from $65.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday. Roth Mkm reaffirmed a "buy" rating and issued a $70.00 target price on shares of Turning Point Brands in a research note on Friday, January 10th. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a research note on Thursday, March 6th. Finally, Alliance Global Partners assumed coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They set a "buy" rating and a $80.00 price objective for the company. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $76.67.

Turning Point Brands Price Performance

TPB traded down $2.07 during midday trading on Friday, reaching $73.59. 101,991 shares of the company's stock were exchanged, compared to its average volume of 216,681. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 29.20 and a beta of 0.69. The business has a 50-day simple moving average of $59.82 and a two-hundred day simple moving average of $59.74. Turning Point Brands, Inc. has a one year low of $30.61 and a one year high of $81.05. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued 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. 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 for the quarter, compared to analyst estimates of $95.75 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The company's revenue was up 28.2% on a year-over-year basis. As a group, research analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 20th will be given a $0.075 dividend. The ex-dividend date is Friday, June 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.41%. Turning Point Brands's payout ratio is presently 14.15%.

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.