Aristides Capital LLC decreased its stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 36.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 107,480 shares of the company's stock after selling 61,110 shares during the period. Turning Point Brands comprises about 1.3% of Aristides Capital LLC's investment portfolio, making the stock its 12th biggest holding. Aristides Capital LLC owned about 0.61% of Turning Point Brands worth $6,460,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of TPB. Vanguard Group Inc. lifted its holdings in Turning Point Brands by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,524,640 shares of the company's stock worth $91,631,000 after buying an additional 18,440 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Turning Point Brands by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company's stock valued at $17,506,000 after acquiring an additional 15,344 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Turning Point Brands by 36.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company's stock worth $19,145,000 after buying an additional 84,552 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Turning Point Brands by 40.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company's stock worth $12,243,000 after acquiring an additional 58,425 shares during the last quarter. Finally, First Sabrepoint Capital Management LP bought a new position in Turning Point Brands in the third quarter worth about $7,517,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on TPB shares. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a research report on Thursday, March 6th. Alliance Global Partners assumed coverage on Turning Point Brands in a research note on Monday, March 3rd. They issued a "buy" rating and a $80.00 target price on the stock. Roth Mkm restated a "buy" rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Finally, StockNews.com downgraded shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. One equities research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $73.33.
Check Out Our Latest Report on Turning Point Brands
Turning Point Brands Price Performance
TPB traded down $0.47 on Friday, reaching $56.04. The company had a trading volume of 26,938 shares, compared to its average volume of 157,468. The company has a market capitalization of $995.24 million, a P/E ratio of 22.27 and a beta of 0.70. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The company has a fifty day moving average of $62.61 and a 200-day moving average of $57.21. Turning Point Brands, Inc. has a one year low of $26.45 and a one year high of $72.54.
Turning Point Brands Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Friday, March 21st. 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 currently 14.15%.
Turning Point Brands Profile
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Free Report)
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.
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