Russell Investments Group Ltd. Acquires 23,961 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Russell Investments Group Ltd. increased its stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 2,339.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,985 shares of the company's stock after acquiring an additional 23,961 shares during the period. Russell Investments Group Ltd. owned approximately 0.14% of Turning Point Brands worth $1,502,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TPB. Arrowstreet Capital Limited Partnership raised its holdings in shares of Turning Point Brands by 36.1% during 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. grew its stake in Turning Point Brands by 40.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company's stock valued at $12,243,000 after purchasing an additional 58,425 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Turning Point Brands by 84.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company's stock valued at $5,311,000 after purchasing an additional 56,364 shares in the last quarter. 272 Capital LP acquired a new stake in Turning Point Brands during the 3rd quarter valued at approximately $1,488,000. Finally, ExodusPoint Capital Management LP acquired a new stake in Turning Point Brands during the 4th quarter valued at approximately $1,940,000. Hedge funds and other institutional investors own 96.12% of the company's stock.

Wall Street Analysts Forecast Growth

TPB has been the subject of a number of recent analyst reports. StockNews.com upgraded Turning Point Brands from a "hold" rating to a "buy" rating in a research note on Friday, April 18th. Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a research note on Thursday, March 6th. Roth Mkm restated a "buy" rating and set a $70.00 price objective on shares of Turning Point Brands in a research note on Friday, January 10th. Finally, Alliance Global Partners initiated coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They issued a "buy" rating and a $80.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to 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 Price Performance

Turning Point Brands stock traded down $0.42 during trading hours on Thursday, hitting $58.63. 24,968 shares of the company traded hands, compared to its average volume of 160,268. The firm has a market cap of $1.04 billion, a P/E ratio of 23.24 and a beta of 0.70. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The firm's 50-day simple moving average is $60.82 and its two-hundred day simple moving average is $58.04. Turning Point Brands, Inc. has a 1-year low of $27.48 and a 1-year high of $72.54.

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. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.51%. This is an increase from Turning Point Brands's previous quarterly dividend of $0.07. Turning Point Brands's dividend 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.