Turning Point Brands, Inc. $TPB Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. reduced its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 67.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,034 shares of the company’s stock after selling 143,999 shares during the period. Goldman Sachs Group Inc. owned approximately 0.39% of Turning Point Brands worth $4,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Sunbelt Securities Inc. acquired a new position in shares of Turning Point Brands in the fourth quarter valued at about $96,000. IFP Advisors Inc boosted its position in Turning Point Brands by 97,250.0% during the first quarter. IFP Advisors Inc now owns 3,894 shares of the company’s stock worth $231,000 after purchasing an additional 3,890 shares in the last quarter. ProShare Advisors LLC purchased a new position in shares of Turning Point Brands in the fourth quarter valued at approximately $290,000. Versor Investments LP purchased a new position in shares of Turning Point Brands in the first quarter valued at approximately $291,000. Finally, Arizona State Retirement System lifted its position in Turning Point Brands by 4.1% during the first quarter. Arizona State Retirement System now owns 5,083 shares of the company’s stock worth $302,000 after buying an additional 199 shares in the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands Price Performance

TPB opened at $101.80 on Thursday. The company has a fifty day moving average price of $91.18 and a two-hundred day moving average price of $74.95. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.67 and a current ratio of 4.22. Turning Point Brands, Inc. has a 52 week low of $38.71 and a 52 week high of $104.76. The firm has a market capitalization of $1.83 billion, a PE ratio of 42.59 and a beta of 0.76.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.19. The firm had revenue of $116.63 million for the quarter, compared to analyst estimates of $107.30 million. Turning Point Brands had a net margin of 10.34% and a return on equity of 25.32%. The company’s revenue was up 25.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS. As a group, analysts anticipate that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 19th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a $0.30 annualized dividend and a yield of 0.3%. Turning Point Brands’s dividend payout ratio is currently 12.55%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Zacks Research cut Turning Point Brands from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Oppenheimer lifted their price objective on Turning Point Brands from $85.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Needham & Company LLC assumed coverage on Turning Point Brands in a research note on Friday, August 1st. They issued a “hold” rating for the company. Finally, Wall Street Zen cut Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.83.

Turning Point Brands Company 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.