Canada Pension Plan Investment Board Purchases Shares of 16,800 Turning Point Brands, Inc. (NYSE:TPB)

Canada Pension Plan Investment Board bought a new stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,800 shares of the company's stock, valued at approximately $1,010,000. Canada Pension Plan Investment Board owned 0.09% of Turning Point Brands at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TPB. USA Financial Formulas purchased a new position in Turning Point Brands in the fourth quarter valued at about $73,000. Levin Capital Strategies L.P. bought a new stake in shares of Turning Point Brands in the 4th quarter valued at approximately $212,000. Entropy Technologies LP acquired a new position in Turning Point Brands in the fourth quarter worth approximately $234,000. AlphaQuest LLC raised its position in Turning Point Brands by 56.4% during the fourth quarter. AlphaQuest LLC now owns 4,131 shares of the company's stock valued at $248,000 after acquiring an additional 1,490 shares in the last quarter. Finally, Semanteon Capital Management LP acquired a new stake in Turning Point Brands in the fourth quarter valued at approximately $271,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a research note on Thursday, March 6th. StockNews.com raised shares of Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Friday, April 18th. Roth Mkm reaffirmed a "buy" rating and issued a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Finally, Alliance Global Partners initiated coverage on Turning Point Brands in a report on Monday, March 3rd. They set a "buy" rating and a $80.00 price objective on the stock. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $73.33.

Turning Point Brands Price Performance

TPB stock remained flat at $59.31 during mid-day trading on Monday. 77,420 shares of the company's stock were exchanged, compared to its average volume of 161,062. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 23.54 and a beta of 0.70. The stock has a 50 day simple moving average of $60.39 and a 200-day simple moving average of $58.53. Turning Point Brands, Inc. has a one year low of $28.16 and a one year high of $72.54. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.

Turning Point Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were issued a $0.075 dividend. The ex-dividend date was Friday, March 21st. This represents a $0.30 dividend on an annualized basis and a yield of 0.51%. This is a positive change from Turning Point Brands's previous quarterly dividend of $0.07. Turning Point Brands's dividend payout ratio (DPR) is 14.15%.

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.