Charles Schwab Investment Management Inc. Increases Stock Position in Turning Point Brands, Inc. (NYSE:TPB)

Charles Schwab Investment Management Inc. grew its holdings in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 40.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 203,706 shares of the company's stock after acquiring an additional 58,425 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.15% of Turning Point Brands worth $12,243,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Martingale Asset Management L P increased its stake in shares of Turning Point Brands by 1.4% during the third 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 period. Principal Financial Group Inc. lifted its holdings in shares of Turning Point Brands by 7.1% in the 4th quarter. Principal Financial Group Inc. now owns 7,247 shares of the company's stock valued at $436,000 after buying an additional 482 shares during the period. Access Investment Management LLC boosted its stake in shares of Turning Point Brands by 0.4% in the fourth quarter. Access Investment Management LLC now owns 122,125 shares of the company's stock valued at $7,340,000 after buying an additional 540 shares in the last quarter. USA Financial Formulas acquired a new position in Turning Point Brands during the fourth quarter worth $73,000. Finally, Stifel Financial Corp raised its position in Turning Point Brands by 6.8% in the third quarter. Stifel Financial Corp now owns 25,646 shares of the company's stock worth $1,107,000 after acquiring an additional 1,634 shares in the last quarter. Institutional investors and hedge funds own 96.12% of the company's stock.

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Turning Point Brands Trading Down 0.1 %

TPB stock traded down $0.08 during midday trading on Tuesday, hitting $58.96. The stock had a trading volume of 118,827 shares, compared to its average volume of 146,516. 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 cap of $1.05 billion, a PE ratio of 23.40 and a beta of 0.75. The company's 50-day moving average price is $62.93 and its 200 day moving average price is $55.56. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.

Turning Point Brands Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TPB shares. Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a research note on Thursday, March 6th. Craig Hallum increased their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, December 5th. StockNews.com lowered 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 Turning Point Brands in a research note on Monday, March 3rd. They issued a "buy" rating and a $80.00 price objective for the company. Finally, Roth Mkm reiterated a "buy" rating and set a $70.00 target price on shares of Turning Point Brands in a research report on Friday, January 10th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target 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.