Vanguard Group Inc. Has $30.36 Million Stock Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Vanguard Group Inc. lifted its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,314,680 shares of the company’s stock after purchasing an additional 55,829 shares during the period. Vanguard Group Inc. owned 0.07% of Turning Point Brands worth $30,356,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Foundry Partners LLC raised its position in shares of Turning Point Brands by 11.6% in the 3rd quarter. Foundry Partners LLC now owns 189,475 shares of the company’s stock worth $4,375,000 after acquiring an additional 19,735 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Turning Point Brands by 183.3% in the third quarter. Assenagon Asset Management S.A. now owns 198,823 shares of the company’s stock valued at $4,591,000 after buying an additional 128,645 shares during the period. Strategic Income Management LLC acquired a new position in Turning Point Brands in the third quarter valued at approximately $809,000. American Century Companies Inc. boosted its holdings in shares of Turning Point Brands by 6.1% during the 3rd quarter. American Century Companies Inc. now owns 886,524 shares of the company’s stock worth $20,470,000 after buying an additional 51,131 shares in the last quarter. Finally, Citigroup Inc. grew its position in shares of Turning Point Brands by 40.8% during the 3rd quarter. Citigroup Inc. now owns 22,126 shares of the company’s stock worth $511,000 after buying an additional 6,410 shares during the period. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Turning Point Brands

In other Turning Point Brands news, insider Plano Lorenzo De purchased 15,043 shares of Turning Point Brands stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $27.97 per share, with a total value of $420,752.71. Following the transaction, the insider now owns 31,375 shares in the company, valued at approximately $877,558.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.80% of the stock is owned by insiders.

Turning Point Brands Stock Performance

NYSE:TPB opened at $27.56 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.67 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $487.18 million, a P/E ratio of 13.44 and a beta of 0.48. The company has a fifty day moving average of $26.07 and a 200-day moving average of $24.41. Turning Point Brands, Inc. has a twelve month low of $19.67 and a twelve month high of $29.86.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Wednesday, February 28th. The company reported $0.72 EPS for the quarter. Turning Point Brands had a return on equity of 38.62% and a net margin of 9.49%. The company had revenue of $97.10 million during the quarter, compared to the consensus estimate of $90.11 million. During the same period last year, the business posted $0.65 EPS. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year.

Turning Point Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 22nd will be issued a dividend of $0.07 per share. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $0.28 annualized dividend and a dividend yield of 1.02%. Turning Point Brands’s payout ratio is currently 13.66%.

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.