Peak6 LLC Acquires Shares of 11,495 Turning Point Brands, Inc. (NYSE:TPB)

PEAK6 LLC purchased a new position in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,495 shares of the company's stock, valued at approximately $691,000. PEAK6 LLC owned 0.06% of Turning Point Brands as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Turning Point Brands by 1.2% during the 4th 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 last quarter. Geode Capital Management LLC increased its position in shares of Turning Point Brands by 3.9% during the 3rd 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 raised its holdings in Turning Point Brands by 36.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company's stock valued at $19,145,000 after buying an additional 84,552 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Turning Point Brands by 40.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company's stock valued at $12,243,000 after acquiring an additional 58,425 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of 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 acquiring an additional 2,802 shares during the last quarter. Hedge funds and other institutional investors own 96.12% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TPB. Alliance Global Partners assumed coverage on Turning Point Brands in a report on Monday, March 3rd. They issued a "buy" rating and a $80.00 price objective on the stock. Roth Mkm restated a "buy" rating and issued a $70.00 price target on shares of Turning Point Brands in a research note on Friday, January 10th. StockNews.com raised Turning Point Brands from a "hold" rating to a "buy" rating in a research note on Friday, April 18th. Finally, Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a research report on Thursday, March 6th. Six equities research 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, the stock has a consensus rating of "Buy" and a consensus price target of $73.33.

Turning Point Brands Stock Up 0.3 %

NYSE:TPB traded up $0.18 during midday trading on Friday, hitting $59.36. 36,882 shares of the company were exchanged, compared to its average volume of 160,638. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. Turning Point Brands, Inc. has a fifty-two week low of $27.48 and a fifty-two week high of $72.54. The company has a market capitalization of $1.05 billion, a PE ratio of 23.51 and a beta of 0.70. The company has a fifty day simple moving average of $60.61 and a 200 day simple moving average of $58.16.

Turning Point Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were given a dividend of $0.075 per share. 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. This represents a $0.30 annualized dividend and a yield of 0.51%. Turning Point Brands's payout ratio is 14.15%.

Turning Point Brands Company 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.