Turning Point Brands, Inc. (NYSE:TPB) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in Turning Point Brands, Inc. (NYSE:TPBFree Report) by 10.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,164 shares of the company’s stock after purchasing an additional 4,246 shares during the quarter. Hsbc Holdings PLC owned 0.25% of Turning Point Brands worth $1,165,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Income Management LLC acquired a new position in Turning Point Brands during the third quarter valued at approximately $809,000. Assenagon Asset Management S.A. lifted its holdings in shares of Turning Point Brands by 162.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 521,980 shares of the company’s stock valued at $13,739,000 after acquiring an additional 323,157 shares in the last quarter. Access Investment Management LLC purchased a new stake in Turning Point Brands during the 4th quarter worth $3,383,000. Vanguard Group Inc. increased its holdings in Turning Point Brands by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,314,680 shares of the company’s stock valued at $30,356,000 after purchasing an additional 55,829 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Turning Point Brands by 6.1% in the third quarter. American Century Companies Inc. now owns 886,524 shares of the company’s stock valued at $20,470,000 after purchasing an additional 51,131 shares during the period. 96.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Benchmark restated a “buy” rating and set a $45.00 price objective on shares of Turning Point Brands in a research note on Wednesday, June 5th. StockNews.com raised Turning Point Brands from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 17th.

Get Our Latest Report on TPB

Turning Point Brands Price Performance

Shares of TPB stock opened at $31.68 on Monday. Turning Point Brands, Inc. has a twelve month low of $19.67 and a twelve month high of $34.71. The company has a market capitalization of $558.20 million, a PE ratio of 13.96 and a beta of 0.61. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.90. The firm has a fifty day simple moving average of $30.66 and a 200-day simple moving average of $27.13.

Turning Point Brands (NYSE:TPBGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.72 earnings per share for the quarter. Turning Point Brands had a net margin of 10.68% and a return on equity of 37.62%. The company had revenue of $97.06 million during the quarter.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, June 14th. This represents a $0.28 dividend on an annualized basis and a yield of 0.88%. Turning Point Brands’s dividend payout ratio (DPR) is 12.33%.

Insider Buying and Selling at Turning Point Brands

In related news, insider Plano Lorenzo De bought 15,043 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was bought 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 of the company’s stock, valued at $877,558.75. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 5.20% of the stock is currently owned by insiders.

About Turning Point Brands

(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.

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Institutional Ownership by Quarter for Turning Point Brands (NYSE:TPB)

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