Vanguard Group Inc. boosted its stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,314,680 shares of the company's stock after acquiring an additional 55,829 shares during the period. Vanguard Group Inc. owned about 7.47% of Turning Point Brands worth $30,356,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameritas Investment Partners Inc. increased its stake in Turning Point Brands by 40.0% in the second quarter. Ameritas Investment Partners Inc. now owns 1,415 shares of the company's stock valued at $34,000 after purchasing an additional 404 shares during the period. Citigroup Inc. increased its stake in Turning Point Brands by 97.2% in the fourth quarter. Citigroup Inc. now owns 3,196 shares of the company's stock valued at $69,000 after purchasing an additional 1,575 shares during the period. Tower Research Capital LLC TRC increased its stake in Turning Point Brands by 25.1% in the third quarter. Tower Research Capital LLC TRC now owns 3,615 shares of the company's stock valued at $76,000 after purchasing an additional 725 shares during the period. Legal & General Group Plc increased its stake in Turning Point Brands by 8.1% in the second quarter. Legal & General Group Plc now owns 5,461 shares of the company's stock valued at $149,000 after purchasing an additional 407 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Turning Point Brands by 147.7% in the second quarter. Wells Fargo & Company MN now owns 7,137 shares of the company's stock valued at $171,000 after purchasing an additional 4,256 shares during the period. 96.12% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Turning Point Brands
In other news, insider Plano Lorenzo De purchased 15,043 shares of the company's stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $27.97 per share, for a total transaction of $420,752.71. Following the completion of the purchase, the insider now directly owns 31,375 shares in the company, valued at approximately $877,558.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.20% of the company's stock.
Turning Point Brands Stock Performance
NYSE TPB traded down $0.64 during trading on Friday, reaching $26.96. The company's stock had a trading volume of 64,906 shares, compared to its average volume of 123,900. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.68 and a current ratio of 2.67. The firm has a market cap of $476.65 million, a price-to-earnings ratio of 13.15 and a beta of 0.48. Turning Point Brands, Inc. has a twelve month low of $19.67 and a twelve month high of $29.86. The business's fifty day moving average price is $26.07 and its 200-day moving average price is $24.41.
Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.72 EPS for the quarter. Turning Point Brands had a net margin of 9.49% and a return on equity of 38.62%. The company had revenue of $97.10 million for the quarter, compared to analyst estimates of $90.11 million. During the same period in the previous year, the business posted $0.65 earnings per share. Turning Point Brands's quarterly revenue was down 6.1% on a year-over-year basis.
Turning Point Brands Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 22nd will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.04%. This is a positive change from Turning Point Brands's previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, March 21st. Turning Point Brands's payout ratio is 13.66%.
Turning Point Brands Profile
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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.
Further Reading
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