CenterBook Partners LP acquired a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 7,243 shares of the company's stock, valued at approximately $435,000.
A number of other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its position in Turning Point Brands by 36.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company's stock valued at $19,145,000 after purchasing an additional 84,552 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Turning Point Brands by 205.8% in the 4th quarter. Invesco Ltd. now owns 97,261 shares of the company's stock valued at $5,845,000 after acquiring an additional 65,457 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position 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 in the last quarter. JPMorgan Chase & Co. increased its stake in Turning Point Brands by 84.5% during the third quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company's stock worth $5,311,000 after acquiring an additional 56,364 shares during the last quarter. Finally, 272 Capital LP purchased a new stake in Turning Point Brands during the third quarter valued at approximately $1,488,000. Hedge funds and other institutional investors own 96.12% of the company's stock.
Analysts Set New Price Targets
Several research firms have commented on TPB. Alliance Global Partners assumed coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They set a "buy" rating and a $80.00 price objective for the company. Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a research report on Thursday, March 6th. StockNews.com lowered Turning Point Brands from a "buy" rating to a "hold" rating in a research note on Tuesday, March 11th. Finally, Roth Mkm restated a "buy" rating and set a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. One research 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 price target of $73.33.
Get Our Latest Research Report on Turning Point Brands
Turning Point Brands Trading Down 0.1 %
TPB traded down $0.05 during trading on Wednesday, hitting $57.32. 152,311 shares of the stock were exchanged, compared to its average volume of 159,193. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The firm has a 50 day simple moving average of $62.17 and a 200 day simple moving average of $57.51. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 22.75 and a beta of 0.70. Turning Point Brands, Inc. has a 1 year low of $26.58 and a 1 year high of $72.54.
Turning Point Brands Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 21st were paid a dividend of $0.075 per share. The ex-dividend date was Friday, March 21st. This is an increase from Turning Point Brands's previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.52%. Turning Point Brands's dividend payout ratio (DPR) is currently 14.15%.
About Turning Point Brands
(
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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