Prudential Financial Inc. Sells 71,800 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Prudential Financial Inc. lessened its position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 79.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,105 shares of the company's stock after selling 71,800 shares during the period. Prudential Financial Inc. owned about 0.11% of Turning Point Brands worth $1,148,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Turning Point Brands by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,524,640 shares of the company's stock valued at $91,631,000 after buying an additional 18,440 shares in the last quarter. Sei Investments Co. raised its stake in shares of Turning Point Brands by 0.4% in the fourth quarter. Sei Investments Co. now owns 78,087 shares of the company's stock valued at $4,693,000 after acquiring an additional 283 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of Turning Point Brands by 577.6% in the 4th quarter. Quantbot Technologies LP now owns 10,245 shares of the company's stock worth $616,000 after acquiring an additional 8,733 shares in the last quarter. Semanteon Capital Management LP bought a new stake in Turning Point Brands during the 4th quarter worth approximately $271,000. Finally, Counterpoint Mutual Funds LLC increased its holdings in Turning Point Brands by 13.4% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 7,089 shares of the company's stock valued at $426,000 after purchasing an additional 840 shares in the last quarter. Institutional investors own 96.12% of the company's stock.

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Turning Point Brands Trading Down 1.3 %

Turning Point Brands stock traded down $0.72 during mid-day trading on Friday, hitting $55.78. The stock had a trading volume of 93,340 shares, compared to its average volume of 158,128. The stock has a market capitalization of $990.69 million, a PE ratio of 22.13 and a beta of 0.70. Turning Point Brands, Inc. has a 12 month low of $26.45 and a 12 month 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 stock has a 50-day simple moving average of $62.47 and a two-hundred day simple moving average of $57.30.

Turning Point Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, March 21st. This is a positive change from Turning Point Brands's previous quarterly dividend of $0.07. Turning Point Brands's dividend payout ratio (DPR) is 14.15%.

Analysts Set New Price Targets

A number of equities analysts have commented on TPB shares. Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a research note on Thursday, March 6th. Roth Mkm reiterated a "buy" rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Alliance Global Partners started coverage on shares of 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, StockNews.com downgraded shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Turning Point Brands has an average 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.