Turning Point Brands, Inc. (NYSE:TPB) Stock Holdings Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in Turning Point Brands, Inc. (NYSE:TPB) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 134,855 shares of the company’s stock after purchasing an additional 6,519 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.77% of Turning Point Brands worth $4,327,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of TPB. Quest Partners LLC bought a new position in shares of Turning Point Brands during the fourth quarter worth about $65,000. Keystone Financial Group bought a new position in shares of Turning Point Brands during the fourth quarter worth about $265,000. Hsbc Holdings PLC lifted its position in shares of Turning Point Brands by 10.6% during the fourth quarter. Hsbc Holdings PLC now owns 44,164 shares of the company’s stock worth $1,165,000 after purchasing an additional 4,246 shares during the last quarter. Harspring Capital Management LLC bought a new position in shares of Turning Point Brands during the fourth quarter worth about $2,101,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Turning Point Brands during the first quarter worth about $64,000. Institutional investors own 96.12% of the company’s stock.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total value of $78,840.00. Following the transaction, the director now directly owns 46,544 shares in the company, valued at approximately $1,834,764.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Plano Lorenzo De bought 4,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average price of $31.80 per share, for a total transaction of $127,200.00. Following the completion of the acquisition, the insider now owns 34,896 shares of the company’s stock, valued at approximately $1,109,692.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory H.A. Baxter sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total value of $78,840.00. Following the sale, the director now owns 46,544 shares in the company, valued at approximately $1,834,764.48. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

Turning Point Brands Trading Down 0.5 %

Shares of NYSE:TPB opened at $39.11 on Friday. The stock has a market capitalization of $692.64 million, a PE ratio of 17.23 and a beta of 0.62. Turning Point Brands, Inc. has a 1 year low of $19.67 and a 1 year high of $40.66. The firm has a fifty day moving average price of $37.96 and a 200 day moving average price of $32.88. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.82 earnings per share (EPS) for the quarter. The company had revenue of $108.51 million during the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%.

Turning Point Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.28 dividend on an annualized basis and a yield of 0.72%. Turning Point Brands’s dividend payout ratio is 12.33%.

Analysts Set New Price Targets

A number of brokerages have issued reports on TPB. Benchmark reissued a “buy” rating and issued a $45.00 target price on shares of Turning Point Brands in a report on Friday, August 2nd. StockNews.com raised shares of Turning Point Brands from a “buy” rating to a “strong-buy” rating in a report on Friday, May 17th.

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.