LSV Asset Management Has $2.76 Million Stock Position in Turning Point Brands, Inc. (NYSE:TPB)

LSV Asset Management lessened its holdings in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 60.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,900 shares of the company's stock after selling 69,400 shares during the quarter. LSV Asset Management owned approximately 0.26% of Turning Point Brands worth $2,759,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TPB. Stifel Financial Corp grew its position in shares of Turning Point Brands by 6.8% during the 3rd quarter. Stifel Financial Corp now owns 25,646 shares of the company's stock worth $1,107,000 after buying an additional 1,634 shares during the period. Jane Street Group LLC grew its holdings in Turning Point Brands by 9.9% during the third quarter. Jane Street Group LLC now owns 29,228 shares of the company's stock valued at $1,261,000 after purchasing an additional 2,637 shares during the period. Barclays PLC increased its stake in Turning Point Brands by 298.6% in the third quarter. Barclays PLC now owns 29,274 shares of the company's stock valued at $1,262,000 after purchasing an additional 21,930 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 period. Finally, 272 Capital LP bought a new position in shares of Turning Point Brands during the third quarter worth $1,488,000. Institutional investors and hedge funds own 96.12% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TPB. StockNews.com cut shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Roth Mkm restated a "buy" rating and issued a $70.00 price target on shares of Turning Point Brands in a report on Friday, January 10th. Alliance Global Partners began coverage on Turning Point Brands in a report on Monday, March 3rd. They set a "buy" rating and a $80.00 price objective on the stock. Finally, Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a research note on Thursday, March 6th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $73.33.

Turning Point Brands Stock Up 0.8 %

Shares of Turning Point Brands stock traded up $0.43 during trading on Friday, reaching $57.72. The stock had a trading volume of 113,731 shares, compared to its average volume of 159,362. 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 has a market capitalization of $1.03 billion, a price-to-earnings ratio of 22.90 and a beta of 0.70. Turning Point Brands, Inc. has a 52 week low of $26.67 and a 52 week high of $72.54. The stock has a fifty day moving average price of $61.76 and a two-hundred day moving average price of $57.61.

Turning Point Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 21st were issued a $0.075 dividend. The ex-dividend date was Friday, March 21st. This is an increase from Turning Point Brands's previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.52%. Turning Point Brands's dividend payout ratio (DPR) is 14.15%.

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.