Turning Point Brands, Inc. (NYSE:TPB) Shares Sold by Boston Partners

Boston Partners lowered its holdings in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 45.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 16,007 shares of the company's stock after selling 13,350 shares during the quarter. Boston Partners owned about 0.09% of Turning Point Brands worth $962,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TPB. First Sabrepoint Capital Management LP acquired a new stake in Turning Point Brands during the third quarter worth approximately $7,517,000. Charles Schwab Investment Management Inc. raised its stake in Turning Point Brands by 40.2% during the 4th 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 in the last quarter. JPMorgan Chase & Co. lifted its position in Turning Point Brands by 84.5% in the third quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company's stock valued at $5,311,000 after acquiring an additional 56,364 shares during the last quarter. 272 Capital LP acquired a new position in Turning Point Brands in the third quarter valued at $1,488,000. Finally, Pekin Hardy Strauss Inc. purchased a new position in shares of Turning Point Brands during the third quarter worth about $1,260,000. Institutional investors and hedge funds own 96.12% of the company's stock.

Turning Point Brands Stock Performance

Shares of NYSE:TPB traded up $0.22 during midday trading on Wednesday, hitting $59.11. The stock had a trading volume of 117,962 shares, compared to its average volume of 146,574. Turning Point Brands, Inc. has a 1 year low of $26.45 and a 1 year high of $72.54. 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 stock has a 50 day moving average price of $62.99 and a two-hundred day moving average price of $55.70. The company has a market capitalization of $1.06 billion, a PE ratio of 23.45 and a beta of 0.75.

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Turning Point Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be given a dividend of $0.075 per share. This is a boost from Turning Point Brands's previous quarterly dividend of $0.07. The ex-dividend date is Friday, March 21st. This represents a $0.30 annualized dividend and a yield of 0.51%. Turning Point Brands's payout ratio is presently 14.15%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TPB. Craig Hallum upped their target price on Turning Point Brands from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a report on Thursday, March 6th. Roth Mkm restated a "buy" rating and set a $70.00 target price on shares of Turning Point Brands in a research report on Friday, January 10th. 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, Alliance Global Partners assumed 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 on the stock. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price 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.