Teacher Retirement System of Texas Trims Stock Holdings in Turning Point Brands, Inc. $TPB

Teacher Retirement System of Texas decreased its stake in Turning Point Brands, Inc. (NYSE:TPB) by 22.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,904 shares of the company’s stock after selling 27,900 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.52% of Turning Point Brands worth $7,115,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TPB. Allspring Global Investments Holdings LLC grew its position in shares of Turning Point Brands by 53.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 13,693 shares of the company’s stock worth $819,000 after purchasing an additional 4,797 shares in the last quarter. Pekin Hardy Strauss Inc. grew its position in shares of Turning Point Brands by 5.0% during the first quarter. Pekin Hardy Strauss Inc. now owns 31,690 shares of the company’s stock worth $1,884,000 after purchasing an additional 1,500 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position in shares of Turning Point Brands by 12.1% during the first quarter. Linden Thomas Advisory Services LLC now owns 29,988 shares of the company’s stock worth $1,782,000 after purchasing an additional 3,231 shares in the last quarter. Arizona State Retirement System boosted its position in shares of 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 acquiring an additional 199 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of 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 acquiring an additional 3,890 shares during the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TPB shares. Needham & Company LLC started coverage on shares of Turning Point Brands in a research report on Friday, August 1st. They set a “hold” rating for the company. Oppenheimer upped their target price on shares of Turning Point Brands from $85.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Zacks Research cut Turning Point Brands from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Weiss Ratings restated a “buy (b)” rating on shares of Turning Point Brands in a report on Thursday. Finally, Wall Street Zen cut Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.83.

Turning Point Brands Stock Performance

NYSE TPB opened at $89.76 on Friday. The stock has a market capitalization of $1.62 billion, a PE ratio of 37.56 and a beta of 0.74. The business has a 50 day simple moving average of $95.26 and a two-hundred day simple moving average of $82.27. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.22 and a quick ratio of 2.67. Turning Point Brands, Inc. has a 1-year low of $46.35 and a 1-year high of $104.76.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data 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 business had revenue of $116.63 million during the quarter, compared to analyst estimates of $107.30 million. Turning Point Brands had a return on equity of 25.32% and a net margin of 10.34%.The company’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same period last year, the company earned $0.68 EPS. On average, research analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 19th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, September 19th. Turning Point Brands’s dividend payout ratio (DPR) is presently 12.55%.

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.