XTX Topco Ltd Lowers Stock Holdings in Turning Point Brands, Inc. (NYSE:TPB)

XTX Topco Ltd reduced its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 18.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,059 shares of the company’s stock after selling 2,241 shares during the quarter. XTX Topco Ltd owned approximately 0.06% of Turning Point Brands worth $434,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TPB. Comerica Bank increased its stake in Turning Point Brands by 22,417.6% in the first quarter. Comerica Bank now owns 7,656 shares of the company’s stock valued at $224,000 after purchasing an additional 7,622 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Turning Point Brands during the second quarter worth about $129,000. Bank of New York Mellon Corp increased its stake in Turning Point Brands by 5.1% during the second quarter. Bank of New York Mellon Corp now owns 134,855 shares of the company’s stock worth $4,327,000 after acquiring an additional 6,519 shares during the last quarter. Access Investment Management LLC increased its stake in Turning Point Brands by 0.6% during the second quarter. Access Investment Management LLC now owns 121,385 shares of the company’s stock worth $3,895,000 after acquiring an additional 745 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Turning Point Brands by 8.9% during the second quarter. Principal Financial Group Inc. now owns 8,456 shares of the company’s stock worth $271,000 after acquiring an additional 693 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TPB has been the subject of several research analyst reports. Roth Mkm initiated coverage on Turning Point Brands in a research note on Thursday, September 19th. They set a “buy” rating and a $50.00 price target for the company. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Oppenheimer started coverage on Turning Point Brands in a research report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 target price for the company. Benchmark upped their target price on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Craig Hallum upped their target price on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $63.75.

Turning Point Brands Trading Down 3.0 %

Shares of TPB opened at $60.52 on Friday. The company has a market capitalization of $1.07 billion, a P/E ratio of 24.02 and a beta of 0.66. Turning Point Brands, Inc. has a one year low of $21.98 and a one year high of $66.18. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The stock has a 50-day moving average price of $53.10 and a 200 day moving average price of $42.50.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The firm had revenue of $105.62 million during the quarter, compared to the consensus estimate of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. Turning Point Brands’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.69 earnings per share. Sell-side analysts forecast that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Friday, December 20th. Turning Point Brands’s dividend payout ratio is currently 11.11%.

About Turning Point Brands

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.