DCF Advisers LLC Reduces Holdings in Turning Point Brands, Inc. (NYSE:TPB)

DCF Advisers LLC cut its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 53.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,515 shares of the company's stock after selling 38,285 shares during the quarter. DCF Advisers LLC owned about 0.19% of Turning Point Brands worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Semanteon Capital Management LP acquired a new position in Turning Point Brands during the fourth quarter worth $271,000. Counterpoint Mutual Funds LLC lifted its stake in Turning Point Brands by 13.4% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 7,089 shares of the company's stock worth $426,000 after acquiring an additional 840 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in Turning Point Brands during the 4th quarter valued at about $361,000. King Luther Capital Management Corp acquired a new position in Turning Point Brands in the 4th quarter valued at about $1,374,000. Finally, Moran Wealth Management LLC grew its position in Turning Point Brands by 16.4% in the 4th quarter. Moran Wealth Management LLC now owns 6,368 shares of the company's stock valued at $383,000 after acquiring an additional 897 shares in the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TPB shares. Alliance Global Partners initiated coverage on shares of 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. Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a research report on Thursday, March 6th. Craig Hallum boosted their price target on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Roth Mkm reiterated a "buy" rating and issued a $70.00 price objective on shares of Turning Point Brands in a research note on Friday, January 10th. Finally, StockNews.com cut Turning Point Brands from a "buy" rating to a "hold" rating in a research note on Tuesday, March 11th. One research 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 stock. According to MarketBeat, Turning Point Brands presently has a consensus rating of "Buy" and a consensus target price of $73.33.

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Turning Point Brands Stock Down 0.1 %

NYSE:TPB traded down $0.08 during trading hours on Tuesday, hitting $58.96. The company's stock had a trading volume of 118,827 shares, compared to its average volume of 146,516. The stock has a market capitalization of $1.05 billion, a P/E ratio of 23.40 and a beta of 0.75. 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 fifty day moving average of $62.93 and a 200-day moving average of $55.56. Turning Point Brands, Inc. has a 52-week low of $26.45 and a 52-week 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. Shareholders of record on Friday, March 21st will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.30 dividend on an annualized basis and a yield of 0.51%. This is a boost from Turning Point Brands's previous quarterly dividend of $0.07. Turning Point Brands's dividend payout ratio (DPR) is presently 14.15%.

Turning Point Brands Company 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.