UBS Oconnor LLC decreased its position in Turning Pt Brnd (NYSE:TPB) by 7.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 147,135 shares of the company’s stock after selling 11,465 shares during the period. UBS Oconnor LLC’s holdings in Turning Pt Brnd were worth $1,769,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Northern Trust Corp increased its stake in Turning Pt Brnd by 382.1% in the third quarter. Northern Trust Corp now owns 58,625 shares of the company’s stock worth $705,000 after buying an additional 46,465 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Turning Pt Brnd by 0.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 39,915 shares of the company’s stock worth $480,000 after buying an additional 172 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Turning Pt Brnd during the third quarter worth $124,000. Finally, Wells Fargo & Company MN increased its stake in Turning Pt Brnd by 6.0% in the third quarter. Wells Fargo & Company MN now owns 27,636 shares of the company’s stock worth $332,000 after buying an additional 1,561 shares during the last quarter. Institutional investors own 68.81% of the company’s stock.
Shares of Turning Pt Brnd (NYSE:TPB) traded down 0.23% during midday trading on Thursday, hitting $12.96. The company had a trading volume of 39,767 shares. The stock’s 50-day moving average price is $13.22 and its 200-day moving average price is $12.65. The stock has a market capitalization of $237.70 million and a price-to-earnings ratio of 15.71. Turning Pt Brnd has a one year low of $6.46 and a one year high of $16.14.
Turning Pt Brnd (NYSE:TPB) last announced its earnings results on Thursday, November 10th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.05. The company earned $51 million during the quarter, compared to analyst estimates of $50.75 million. Turning Pt Brnd’s revenue for the quarter was down .8% compared to the same quarter last year. Analysts predict that Turning Pt Brnd will post $1.01 EPS for the current year.
A number of research firms have recently weighed in on TPB. FBR & Co restated a “buy” rating on shares of Turning Pt Brnd in a research report on Tuesday, November 22nd. Zacks Investment Research downgraded Turning Pt Brnd from a “buy” rating to a “strong sell” rating in a research report on Wednesday, December 14th.
In related news, VP James Michael Murray sold 13,592 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $14.00, for a total transaction of $190,288.00. Following the completion of the transaction, the vice president now directly owns 141 shares of the company’s stock, valued at approximately $1,974. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Turning Pt Brnd Company Profile
Turning Point Brands, Inc, formerly North Atlantic Holding Company, Inc, is a provider of Other Tobacco Products (OTP) in the United States. The Company operates through three segments: smokeless products, smoking products and NewGen products. The Smokeless products market consists of approximately four product categories, which includes loose leaf chewing tobacco, Moist Snuff, Moist Snuff Pouches and Snus.
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