King Luther Capital Management Corp Purchases Shares of 22,868 Turning Point Brands, Inc. (NYSE:TPB)

King Luther Capital Management Corp purchased a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 22,868 shares of the company's stock, valued at approximately $1,374,000. King Luther Capital Management Corp owned 0.13% of Turning Point Brands as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of TPB. Aigen Investment Management LP purchased a new stake in Turning Point Brands in the third quarter worth $221,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Turning Point Brands in the third quarter worth $326,000. Moran Wealth Management LLC purchased a new stake in Turning Point Brands in the third quarter worth $236,000. Charles Schwab Investment Management Inc. increased its stake in Turning Point Brands by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 145,281 shares of the company's stock worth $6,269,000 after purchasing an additional 2,442 shares during the period. Finally, Pekin Hardy Strauss Inc. purchased a new stake in Turning Point Brands in the third quarter worth $1,260,000. Hedge funds and other institutional investors own 96.12% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TPB shares. Oppenheimer started coverage on Turning Point Brands in a research note on Thursday, November 14th. They issued an "outperform" rating and a $65.00 target price on the stock. Alliance Global Partners started coverage on Turning Point Brands in a research note on Monday, March 3rd. They issued a "buy" rating and a $80.00 target price on the stock. Craig Hallum increased their target price on Turning Point Brands from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a research note on Thursday, March 6th. Finally, StockNews.com downgraded Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $73.33.

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Turning Point Brands Stock Up 2.6 %

Shares of TPB traded up $1.47 during midday trading on Friday, reaching $58.41. 215,894 shares of the stock were exchanged, compared to its average volume of 145,849. Turning Point Brands, Inc. has a 52 week low of $26.45 and a 52 week high of $72.54. 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 company's 50 day moving average is $62.75 and its two-hundred day moving average is $54.45. The company has a market capitalization of $1.04 billion, a P/E ratio of 23.18 and a beta of 0.75.

Turning Point Brands Increases Dividend

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

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.