Allspring Global Investments Holdings LLC Has $469,000 Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 72,406.7% in the third quarter, HoldingsChannel reports. The fund owned 10,876 shares of the company’s stock after buying an additional 10,861 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Turning Point Brands were worth $469,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPB. BNP Paribas Financial Markets raised its stake in shares of Turning Point Brands by 6.8% during the 1st quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock worth $532,000 after purchasing an additional 1,159 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Turning Point Brands in the 1st quarter valued at approximately $1,587,000. Sei Investments Co. raised its stake in shares of Turning Point Brands by 6.1% in the 1st quarter. Sei Investments Co. now owns 111,958 shares of the company’s stock valued at $3,280,000 after acquiring an additional 6,470 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Turning Point Brands by 45.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock valued at $7,481,000 after acquiring an additional 79,489 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Turning Point Brands by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock valued at $43,865,000 after buying an additional 92,147 shares during the last quarter. 96.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Turning Point Brands

In other news, 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 transaction of $78,840.00. Following the completion of the transaction, the director now directly owns 46,544 shares of the company’s stock, valued at $1,834,764.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.20% of the company’s stock.

Analyst Upgrades and Downgrades

TPB has been the topic of a number of research analyst reports. StockNews.com lowered Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 24th. Roth Mkm initiated coverage on Turning Point Brands in a report on Thursday, September 19th. They issued a “buy” rating and a $50.00 target price on the stock. Benchmark reaffirmed a “buy” rating and issued a $45.00 target price on shares of Turning Point Brands in a report on Friday, August 2nd. Finally, Roth Capital raised Turning Point Brands to a “strong-buy” rating in a report on Thursday, September 19th.

Turning Point Brands Trading Up 1.9 %

TPB stock opened at $48.13 on Friday. The company has a market cap of $852.57 million, a P/E ratio of 19.89 and a beta of 0.63. Turning Point Brands, Inc. has a twelve month low of $19.86 and a twelve month high of $48.64. The company has a quick ratio of 1.17, a current ratio of 1.80 and a debt-to-equity ratio of 1.43. The business has a fifty day moving average of $41.91 and a 200-day moving average of $36.62.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.82 EPS for the quarter. The business had revenue of $108.51 million during the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. As a group, equities research analysts expect that Turning Point Brands, Inc. will post 2.68 EPS for the current year.

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.