Invesco Ltd. Raises Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Invesco Ltd. raised its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 205.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,261 shares of the company's stock after buying an additional 65,457 shares during the period. Invesco Ltd. owned about 0.55% of Turning Point Brands worth $5,845,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TPB. Vanguard Group Inc. increased its stake in shares of Turning Point Brands by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,524,640 shares of the company's stock worth $91,631,000 after buying an additional 18,440 shares during the period. Geode Capital Management LLC grew its stake in shares of Turning Point Brands by 3.9% in the third quarter. Geode Capital Management LLC now owns 405,613 shares of the company's stock worth $17,506,000 after purchasing an additional 15,344 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Turning Point Brands by 36.1% during the 4th 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 period. Charles Schwab Investment Management Inc. raised its position in Turning Point Brands by 40.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company's stock valued at $12,243,000 after purchasing an additional 58,425 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Turning Point Brands by 1.8% in the 4th quarter. Federated Hermes Inc. now owns 157,618 shares of the company's stock worth $9,473,000 after buying an additional 2,802 shares during the period. 96.12% of the stock is owned by institutional investors.

Turning Point Brands Stock Performance

NYSE:TPB remained flat at $59.31 during trading hours on Monday. The company's stock had a trading volume of 77,420 shares, compared to its average volume of 161,062. 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 50-day moving average price of $60.39 and a 200-day moving average price of $58.53. Turning Point Brands, Inc. has a 1-year low of $28.16 and a 1-year high of $72.54. The firm has a market capitalization of $1.05 billion, a PE ratio of 23.54 and a beta of 0.70.

Turning Point Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 21st were paid a $0.075 dividend. This is a boost from Turning Point Brands's previous quarterly dividend of $0.07. The ex-dividend date was Friday, March 21st. This represents a $0.30 dividend on an annualized basis and a yield of 0.51%. Turning Point Brands's payout ratio is presently 14.15%.

Wall Street Analyst Weigh In

TPB has been the subject of several research analyst reports. Roth Mkm reaffirmed a "buy" rating and issued a $70.00 target price on shares of Turning Point Brands in a research report on Friday, January 10th. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a report 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 target price on Turning Point Brands in a report on Thursday, March 6th. Finally, StockNews.com upgraded Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Friday, April 18th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price 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.