Northern Right Capital Management L.P. Raises Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Northern Right Capital Management L.P. raised its position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 356.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,354 shares of the company's stock after purchasing an additional 104,931 shares during the period. Turning Point Brands accounts for 3.0% of Northern Right Capital Management L.P.'s investment portfolio, making the stock its 13th largest holding. Northern Right Capital Management L.P. owned approximately 0.76% of Turning Point Brands worth $8,075,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TPB. USA Financial Formulas purchased a new position in shares of Turning Point Brands in the 4th quarter valued at $73,000. Tower Research Capital LLC TRC grew its position in shares of Turning Point Brands by 29.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock valued at $142,000 after buying an additional 532 shares during the last quarter. Levin Capital Strategies L.P. purchased a new position in shares of Turning Point Brands in the 4th quarter valued at $212,000. Entropy Technologies LP purchased a new position in shares of Turning Point Brands in the 4th quarter valued at $234,000. Finally, AlphaQuest LLC grew its position in shares of Turning Point Brands by 56.4% in the 4th quarter. AlphaQuest LLC now owns 4,131 shares of the company's stock valued at $248,000 after buying an additional 1,490 shares during the last quarter. 96.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on TPB. 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. StockNews.com raised shares of Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Friday, April 18th. Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a research note on Thursday, March 6th. Finally, Alliance Global Partners began coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They set a "buy" rating and a $80.00 price target for the company. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $73.33.

Turning Point Brands Price Performance

NYSE:TPB remained flat at $59.31 during trading hours on Monday. 77,420 shares of the company were exchanged, compared to its average volume of 161,062. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 23.54 and a beta of 0.70. The firm's fifty day moving average is $60.19 and its 200-day moving average is $58.65. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. Turning Point Brands, Inc. has a 12-month low of $28.16 and a 12-month high of $72.54.

Turning Point Brands Increases Dividend

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