Franklin Resources Inc. Reduces Holdings in Turning Point Brands, Inc. $TPB

Franklin Resources Inc. reduced its holdings in Turning Point Brands, Inc. by 15.3% in Q2, owning 87,305 shares worth $6.615 million. Other institutional investors adjusted their stakes, with GAMMA Investing LLC increasing its position by 90.7%. Turning Point Brands reported strong Q3 earnings, with a 12.7% revenue increase year-over-year. The company announced a quarterly dividend of $0.075 per share. Insiders sold 64,220 shares valued at $6.434 million in the last three months.

Franklin Resources Inc. trimmed its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 15.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,305 shares of the company's stock after selling 15,734 shares during the quarter. Franklin Resources Inc. owned approximately 0.49% of Turning Point Brands worth $6,615,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Turning Point Brands by 90.7% in the second quarter. GAMMA Investing LLC now owns 328 shares of the company's stock worth $25,000 after buying an additional 156 shares in the last quarter. Martingale Asset Management L P raised its holdings in Turning Point Brands by 0.6% during the first quarter. Martingale Asset Management L P now owns 26,370 shares of the company's stock valued at $1,567,000 after acquiring an additional 162 shares during the period. Briaud Financial Planning Inc purchased a new position in shares of Turning Point Brands in the second quarter valued at about $31,000. Police & Firemen s Retirement System of New Jersey lifted its position in shares of Turning Point Brands by 12.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,004 shares of the company's stock valued at $303,000 after acquiring an additional 432 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Turning Point Brands by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company's stock worth $606,000 after acquiring an additional 459 shares during the period. 96.12% of the stock is currently owned by institutional investors.

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Turning Point Brands Stock Up 0.6%

Shares of NYSE TPB opened at $100.16 on Monday. The company has a current ratio of 5.56, a quick ratio of 3.98 and a debt-to-equity ratio of 0.82. Turning Point Brands, Inc. has a 12-month low of $51.48 and a 12-month high of $110.55. The firm's 50-day moving average price is $94.86 and its 200-day moving average price is $87.80. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 35.27 and a beta of 0.89.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.46. Turning Point Brands had a return on equity of 24.44% and a net margin of 12.02%.The company had revenue of $118.98 million for the quarter, compared to analysts' expectations of $111.42 million. During the same period in the previous year, the firm posted $0.68 earnings per share. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities research analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 19th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, December 19th. Turning Point Brands's dividend payout ratio is presently 10.56%.

Insider Buying and Selling

In other news, Director Gregory H.A. Baxter sold 1,500 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $98.23, for a total value of $147,345.00. Following the sale, the director owned 38,919 shares of the company's stock, valued at approximately $3,823,013.37. This represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen Usher sold 1,000 shares of Turning Point Brands stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $101.00, for a total transaction of $101,000.00. Following the transaction, the director directly owned 5,175 shares of the company's stock, valued at approximately $522,675. This represents a 16.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 64,220 shares of company stock valued at $6,434,342 in the last three months. Corporate insiders own 6.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Zacks Research raised Turning Point Brands from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, November 12th. Alliance Global Partners lifted their price objective on shares of Turning Point Brands from $103.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday, November 5th. Oppenheimer boosted their target price on shares of Turning Point Brands from $110.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, November 19th. Weiss Ratings restated a "buy (b)" rating on shares of Turning Point Brands in a research report on Thursday, October 30th. Finally, Wall Street Zen upgraded shares of Turning Point Brands from a "hold" rating to a "buy" rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Turning Point Brands presently has a consensus rating of "Buy" and an average price target of $97.00.

Read Our Latest Stock Analysis on TPB

Turning Point Brands Profile

(Free Report)

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.

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