Franklin Resources Inc. Sells 7,472 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Franklin Resources Inc. lessened its stake in Turning Point Brands, Inc. (NYSE:TPB) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,089 shares of the company’s stock after selling 7,472 shares during the period. Franklin Resources Inc. owned 0.89% of Turning Point Brands worth $6,624,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Copeland Capital Management LLC acquired a new stake in shares of Turning Point Brands during the 3rd quarter worth approximately $61,000. SG Americas Securities LLC acquired a new stake in Turning Point Brands during the 2nd quarter worth $129,000. The Manufacturers Life Insurance Company bought a new stake in shares of Turning Point Brands during the 2nd quarter valued at $209,000. Magnetar Financial LLC acquired a new position in shares of Turning Point Brands in the 2nd quarter valued at $212,000. Finally, Aigen Investment Management LP bought a new position in shares of Turning Point Brands in the 3rd quarter worth $221,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on TPB shares. Oppenheimer began coverage on Turning Point Brands in a research note on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price target for the company. Benchmark increased their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. StockNews.com raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a report on Wednesday, December 18th. Craig Hallum raised their price objective on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Roth Mkm restated a “buy” rating and issued a $70.00 price target (up from $55.00) on shares of Turning Point Brands in a report on Tuesday, December 17th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $68.75.

Turning Point Brands Stock Up 0.7 %

TPB stock opened at $59.14 on Monday. Turning Point Brands, Inc. has a fifty-two week low of $21.98 and a fifty-two week high of $66.18. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 23.47 and a beta of 0.66. The business’s fifty day moving average price is $54.92 and its two-hundred day moving average price is $43.53.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $105.62 million for the quarter, compared to the consensus estimate of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 earnings per share. On average, equities 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, January 10th. Stockholders of record on Friday, December 20th will be issued a $0.07 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.47%. Turning Point Brands’s dividend payout ratio (DPR) is currently 11.11%.

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.