6,117 Shares in Turning Point Brands, Inc. (NYSE:TPB) Bought by Ieq Capital LLC

Ieq Capital LLC acquired a new stake in 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 6,117 shares of the company's stock, valued at approximately $368,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake 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. Legato Capital Management LLC bought a new position in Turning Point Brands in the fourth quarter valued at about $278,000. Entropy Technologies LP bought a new position in Turning Point Brands in the fourth quarter valued at about $234,000. Linden Thomas Advisory Services LLC boosted its stake in shares of Turning Point Brands by 22.8% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 26,757 shares of the company's stock valued at $1,608,000 after purchasing an additional 4,967 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in shares of Turning Point Brands during the fourth quarter worth about $73,000. Institutional investors and hedge funds own 96.12% of the company's stock.

Turning Point Brands Stock Performance

Shares of NYSE:TPB remained flat at $70.30 during trading on Monday. 198,972 shares of the stock were exchanged, compared to its average volume of 140,802. Turning Point Brands, Inc. has a 12 month low of $25.79 and a 12 month high of $72.28. 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 business's 50 day moving average is $62.26 and its two-hundred day moving average is $53.20. The stock has a market capitalization of $1.24 billion, a PE ratio of 27.90 and a beta of 0.65.

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Turning Point Brands Increases Dividend

The company also recently declared 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. The ex-dividend date is Friday, March 21st. This represents a $0.30 dividend on an annualized basis and a yield of 0.43%. This is a boost from Turning Point Brands's previous quarterly dividend of $0.07. Turning Point Brands's dividend payout ratio is 11.11%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Craig Hallum raised their price objective 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. Alliance Global Partners began coverage on shares of Turning Point Brands in a research note on Monday. They set a "buy" rating and a $80.00 price target for the company. StockNews.com cut shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research note on Tuesday, February 4th. Benchmark increased their price objective on Turning Point Brands from $45.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Finally, Roth Capital raised Turning Point Brands to a "strong-buy" rating in a report on Friday, November 8th. 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, the stock currently has an average rating of "Buy" and an average target price of $71.00.

Turning Point Brands 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.