Northern Trust Corp Has $9.64 Million Stock Position in Turning Point Brands, Inc. (NYSE:TPB)

Northern Trust Corp grew its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 160,386 shares of the company’s stock after acquiring an additional 11,808 shares during the quarter. Northern Trust Corp owned 0.91% of Turning Point Brands worth $9,639,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TPB. Tudor Investment Corp ET AL boosted its holdings in Turning Point Brands by 66.8% in the 4th quarter. Tudor Investment Corp ET AL now owns 61,971 shares of the company’s stock valued at $3,724,000 after purchasing an additional 24,815 shares during the period. Northern Right Capital Management L.P. boosted its stake in shares of Turning Point Brands by 356.6% in the fourth quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company’s stock valued at $8,075,000 after buying an additional 104,931 shares during the period. Price T Rowe Associates Inc. MD grew its position in Turning Point Brands by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 61,727 shares of the company’s stock worth $3,711,000 after buying an additional 1,769 shares in the last quarter. State of Tennessee Department of Treasury increased its stake in Turning Point Brands by 38.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 4,700 shares of the company’s stock worth $282,000 after acquiring an additional 1,300 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Turning Point Brands by 29.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock worth $142,000 after acquiring an additional 532 shares during the period. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Stock Performance

NYSE:TPB opened at $73.44 on Friday. The stock’s 50-day simple moving average is $60.98 and its 200 day simple moving average is $60.92. The firm has a market capitalization of $1.31 billion, a PE ratio of 29.14 and a beta of 0.69. 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, Inc. has a twelve month low of $30.61 and a twelve month high of $81.05.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.16. The firm had revenue of $106.44 million during the quarter, compared to analysts’ expectations of $95.75 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 earnings per share. On average, analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th will be given a $0.075 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $0.30 dividend on an annualized basis and a yield of 0.41%. Turning Point Brands’s dividend payout ratio is currently 13.16%.

Insiders Place Their Bets

In other news, CAO Brian Wigginton sold 3,500 shares of Turning Point Brands stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $75.75, for a total transaction of $265,125.00. Following the sale, the chief accounting officer now directly owns 10,171 shares of the company’s stock, valued at approximately $770,453.25. This trade represents a 25.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gregory H.A. Baxter sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $73.64, for a total value of $110,460.00. Following the completion of the transaction, the director now directly owns 40,419 shares of the company’s stock, valued at $2,976,455.16. This represents a 3.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on TPB shares. Oppenheimer increased their target price on Turning Point Brands from $65.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. StockNews.com raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Wednesday. Industrial Alliance Securities set a $85.00 price objective on shares of 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 report on Monday, March 3rd. They issued a “buy” rating and a $80.00 target price for the company. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $76.67.

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.