Thrivent Financial for Lutherans Has $32.65 Million Stock Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Thrivent Financial for Lutherans trimmed its stake in shares of Turning Point Brands, Inc. (NYSE:TPB) by 44.9% in the third quarter, Holdings Channel.com reports. The firm owned 756,584 shares of the company’s stock after selling 617,219 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Turning Point Brands were worth $32,646,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Copeland Capital Management LLC bought a new stake in Turning Point Brands during the 3rd quarter worth approximately $61,000. Lazard Asset Management LLC bought a new stake in shares of Turning Point Brands in the 1st quarter valued at $48,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Turning Point Brands in the 1st quarter valued at $64,000. SG Americas Securities LLC bought a new stake in shares of Turning Point Brands in the 2nd quarter valued at $129,000. Finally, Aigen Investment Management LP bought a new stake in shares of Turning Point Brands in the 3rd quarter valued at $221,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Stock Up 0.5 %

Turning Point Brands stock opened at $61.00 on Wednesday. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The firm’s fifty day moving average is $45.02 and its 200 day moving average is $38.71. Turning Point Brands, Inc. has a 12-month low of $21.98 and a 12-month high of $62.21. The company has a market capitalization of $1.08 billion, a PE ratio of 24.26 and a beta of 0.63.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The firm had revenue of $105.62 million for the quarter, compared to the consensus estimate of $100.71 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts predict that Turning Point Brands, Inc. will post 2.62 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, December 20th. This represents a $0.28 annualized dividend and a yield of 0.46%. Turning Point Brands’s payout ratio is 11.11%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TPB shares. StockNews.com lowered shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 24th. Roth Mkm began coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They set a “buy” rating and a $50.00 target price on the stock. Benchmark boosted their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Oppenheimer began coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price on the stock. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $60.00.

About Turning Point Brands

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.