Massachusetts Financial Services Co. MA Purchases New Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Massachusetts Financial Services Co. MA acquired a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 20,080 shares of the company's stock, valued at approximately $1,207,000. Massachusetts Financial Services Co. MA owned about 0.11% of Turning Point Brands at the end of the most recent quarter.

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

Turning Point Brands Trading Up 1.8 %

Shares of Turning Point Brands stock traded up $0.98 during midday trading on Monday, reaching $56.86. 8,950 shares of the company's stock traded hands, compared to its average volume of 157,909. The company has a market cap of $1.01 billion, a PE ratio of 22.56 and a beta of 0.70. The stock has a 50 day moving average of $62.47 and a 200-day moving average of $57.41. Turning Point Brands, Inc. has a 12 month low of $26.45 and a 12 month high of $72.54. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21.

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Turning Point Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 21st were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.53%. This is a boost from Turning Point Brands's previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, March 21st. Turning Point Brands's dividend payout ratio (DPR) is currently 14.15%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TPB. Roth Mkm reissued a "buy" rating and issued a $70.00 target price on shares of Turning Point Brands in a research note on Friday, January 10th. StockNews.com downgraded Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Alliance Global Partners began coverage on shares of Turning Point Brands in a report on Monday, March 3rd. They issued a "buy" rating and a $80.00 target price on the stock. Finally, Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a report on Thursday, March 6th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Turning Point Brands presently has a consensus rating of "Buy" and a consensus price target of $73.33.

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.