Bank of New York Mellon Corp Has $5.43 Million Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Bank of New York Mellon Corp trimmed its position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 25.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 90,309 shares of the company's stock after selling 31,422 shares during the period. Bank of New York Mellon Corp owned about 0.51% of Turning Point Brands worth $5,428,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Corsair Capital Management L.P. lifted its stake in shares of Turning Point Brands by 49.0% in the 3rd quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company's stock valued at $1,312,000 after purchasing an additional 10,000 shares during the period. Entropy Technologies LP acquired a new stake in Turning Point Brands during the 4th quarter worth approximately $234,000. Pekin Hardy Strauss Inc. bought a new position in Turning Point Brands in the third quarter valued at approximately $1,260,000. 272 Capital LP acquired a new position in Turning Point Brands in the 3rd quarter worth $1,488,000. Finally, Legato Capital Management LLC acquired a new stake in shares of Turning Point Brands in the fourth quarter valued at approximately $278,000. Institutional investors own 96.12% of the company's stock.

Analysts Set New Price Targets

TPB has been the topic of several recent analyst reports. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a research report on Thursday, March 6th. Craig Hallum upped their price target on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Alliance Global Partners began coverage on Turning Point Brands in a research report on Monday, March 3rd. They set a "buy" rating and a $80.00 price objective on the stock. StockNews.com downgraded shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Finally, Roth Mkm reiterated a "buy" rating and set a $70.00 price objective on shares of Turning Point Brands in a research note on Friday, January 10th. One 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.com, the company presently has a consensus rating of "Buy" and an average price target of $73.33.

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Turning Point Brands Price Performance

Shares of TPB traded down $0.05 during trading hours on Friday, reaching $57.69. The stock had a trading volume of 147,760 shares, compared to its average volume of 146,577. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. Turning Point Brands, Inc. has a 12 month low of $26.45 and a 12 month high of $72.54. The stock has a market capitalization of $1.02 billion, a PE ratio of 22.89 and a beta of 0.74. The company's 50-day moving average is $62.81 and its two-hundred day moving average is $55.09.

Turning Point Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be issued a dividend of $0.075 per share. This is a boost from Turning Point Brands's previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, March 21st. Turning Point Brands's payout ratio is 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.