Turning Point Brands, Inc. (NYSE:TPB) Stock Holdings Reduced by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 7.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 285,452 shares of the company's stock after selling 21,845 shares during the quarter. Renaissance Technologies LLC owned about 1.61% of Turning Point Brands worth $17,156,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TPB. Entropy Technologies LP acquired a new stake in Turning Point Brands in the 4th quarter valued at approximately $234,000. 272 Capital LP purchased a new position in Turning Point Brands during the 3rd quarter worth approximately $1,488,000. Legato Capital Management LLC purchased a new stake in Turning Point Brands in the fourth quarter valued at approximately $278,000. Principal Financial Group Inc. raised its position in Turning Point Brands by 7.1% in the 4th quarter. Principal Financial Group Inc. now owns 7,247 shares of the company's stock valued at $436,000 after purchasing an additional 482 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Turning Point Brands by 298.6% during the third quarter. Barclays PLC now owns 29,274 shares of the company's stock worth $1,262,000 after buying an additional 21,930 shares during the period. 96.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TPB shares. Roth Mkm reaffirmed a "buy" rating and issued a $70.00 target price on shares of Turning Point Brands in a report on Friday, January 10th. StockNews.com downgraded Turning Point Brands from a "buy" rating to a "hold" rating in a research note on Tuesday, March 11th. Industrial Alliance Securities set a $85.00 target price on 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 report on Monday, March 3rd. They set a "buy" rating and a $80.00 price target for the company. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Turning Point Brands presently has a consensus rating of "Buy" and an average target price of $73.33.

Turning Point Brands Stock Performance

TPB traded up $0.43 during trading on Friday, reaching $57.72. 113,731 shares of the company were exchanged, 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. Turning Point Brands, Inc. has a 52 week low of $26.67 and a 52 week high of $72.54. The firm has a 50 day moving average of $61.76 and a 200 day moving average of $57.61. The stock has a market cap of $1.03 billion, a P/E ratio of 22.90 and a beta of 0.70.

Turning Point Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 21st were paid a $0.075 dividend. This is a positive change 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%. The ex-dividend date of this dividend was Friday, March 21st. Turning Point Brands's dividend payout ratio is currently 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.