Turning Point Brands Inc. (NYSE:TPB) announced its quarterly earnings data on Thursday. 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 firm had revenue of $51 million for the quarter, compared to the consensus estimate of $50.75 million. Turning Point Brands’s revenue was down .8% compared to the same quarter last year.

Shares of Turning Point Brands (NYSE:TPB) opened at 15.13 on Thursday. The company’s 50-day moving average is $12.76 and its 200-day moving average is $11.54. Turning Point Brands has a 12 month low of $6.46 and a 12 month high of $16.14. The stock has a market capitalization of $270.83 million and a PE ratio of 16.52.

A number of brokerages recently weighed in on TPB. FBR & Co reaffirmed a “buy” rating on shares of Turning Point Brands in a research report on Tuesday, August 16th. Zacks Investment Research cut shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 13th.

Several large investors have recently modified their holdings of the stock. Northern Trust Corp increased its stake in shares of Turning Point Brands by 382.1% in the third quarter. Northern Trust Corp now owns 58,625 shares of the company’s stock valued at $705,000 after buying an additional 46,465 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Turning Point Brands by 0.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 39,915 shares of the company’s stock valued at $480,000 after buying an additional 172 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Turning Point Brands during the third quarter valued at approximately $124,000. Finally, Wells Fargo & Company MN increased its stake in shares of Turning Point Brands by 6.0% in the third quarter. Wells Fargo & Company MN now owns 27,636 shares of the company’s stock valued at $332,000 after buying an additional 1,561 shares during the period. Institutional investors and hedge funds own 68.02% of the company’s stock.

Turning Point Brands 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.

5 Day Chart for NYSE:TPB

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