ExodusPoint Capital Management LP Invests $1.94 Million in Turning Point Brands, Inc. (NYSE:TPB)

ExodusPoint Capital Management LP acquired a new position in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 32,274 shares of the company's stock, valued at approximately $1,940,000. ExodusPoint Capital Management LP owned approximately 0.18% of Turning Point Brands as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. grew its stake in shares of Turning Point Brands by 0.4% during the fourth quarter. Sei Investments Co. now owns 78,087 shares of the company's stock worth $4,693,000 after purchasing an additional 283 shares in the last quarter. Principal Financial Group Inc. increased 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 acquiring an additional 482 shares during the last quarter. Access Investment Management LLC raised its position in shares of Turning Point Brands by 0.4% during the 4th quarter. Access Investment Management LLC now owns 122,125 shares of the company's stock worth $7,340,000 after acquiring an additional 540 shares in the last quarter. Counterpoint Mutual Funds LLC lifted its stake in Turning Point Brands by 13.4% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 7,089 shares of the company's stock worth $426,000 after purchasing an additional 840 shares during the last quarter. Finally, Moran Wealth Management LLC increased its stake in Turning Point Brands by 16.4% in the fourth quarter. Moran Wealth Management LLC now owns 6,368 shares of the company's stock valued at $383,000 after purchasing an additional 897 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company's stock.

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Turning Point Brands Price Performance

Shares of TPB traded up $1.14 during trading hours on Monday, hitting $57.02. 10,082 shares of the company were exchanged, compared to its average volume of 157,915. The company has a market capitalization of $1.01 billion, a PE ratio of 22.63 and a beta of 0.70. Turning Point Brands, Inc. has a one year low of $26.45 and a one year high of $72.54. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The firm has a fifty day simple moving average of $62.47 and a 200-day simple moving average of $57.41.

Turning Point Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, March 21st. This is a positive change from Turning Point Brands's previous quarterly dividend of $0.07. Turning Point Brands's dividend payout ratio is currently 14.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TPB shares. Roth Mkm reaffirmed a "buy" rating and issued a $70.00 target price on shares of Turning Point Brands in a report on Friday, January 10th. Alliance Global Partners initiated coverage on Turning Point Brands in a research report on Monday, March 3rd. They set a "buy" rating and a $80.00 price target on the stock. Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a research note on Thursday, March 6th. Finally, StockNews.com cut Turning Point Brands from a "buy" rating to a "hold" rating in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Turning Point Brands currently has a consensus rating of "Buy" and a consensus price target of $73.33.

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.