American Century Companies Inc. Sells 55,986 Shares of Turning Point Brands, Inc. (NYSE:TPB)

American Century Companies Inc. cut its position in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 8.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 622,759 shares of the company's stock after selling 55,986 shares during the period. American Century Companies Inc. owned 3.52% of Turning Point Brands worth $37,428,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Turning Point Brands during the third quarter worth approximately $326,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Turning Point Brands by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 145,281 shares of the company's stock worth $6,269,000 after acquiring an additional 2,442 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Turning Point Brands by 22.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 38,571 shares of the company's stock worth $1,664,000 after acquiring an additional 7,170 shares during the period. Martingale Asset Management L P increased its holdings in shares of Turning Point Brands by 1.4% during the 3rd quarter. Martingale Asset Management L P now owns 24,686 shares of the company's stock worth $1,065,000 after acquiring an additional 329 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in Turning Point Brands in the 3rd quarter valued at $435,000. 96.12% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of equities analysts have commented on TPB shares. Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a research report on Thursday, March 6th. Roth Mkm reaffirmed a "buy" rating and set a $70.00 target price on shares of Turning Point Brands in a report on Friday, January 10th. StockNews.com lowered shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research note on Tuesday, March 11th. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They set a "buy" rating and a $80.00 price objective for the company. Finally, Craig Hallum boosted their price objective on Turning Point Brands from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Turning Point Brands currently has a consensus rating of "Buy" and an average price target of $73.33.

Turning Point Brands Stock Performance

NYSE TPB traded up $0.31 during trading on Tuesday, reaching $59.75. The company's stock had a trading volume of 109,673 shares, compared to its average volume of 151,667. The firm has a 50 day moving average price of $63.19 and a 200 day moving average price of $56.41. Turning Point Brands, Inc. has a 12 month low of $26.45 and a 12 month high of $72.54. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 23.71 and a beta of 0.75. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

Turning Point Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.50%. This is an increase from Turning Point Brands's previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, March 21st. Turning Point Brands's payout ratio is presently 14.15%.

Turning Point Brands Profile

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.