Semanteon Capital Management LP Acquires New Shares in Turning Point Brands, Inc. (NYSE:TPB)

Semanteon Capital Management LP acquired a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 4,513 shares of the company's stock, valued at approximately $271,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Corsair Capital Management L.P. boosted its stake in shares of Turning Point Brands by 49.0% during the 3rd quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company's stock valued at $1,312,000 after purchasing an additional 10,000 shares in the last quarter. Entropy Technologies LP bought a new stake in Turning Point Brands during the 4th quarter valued at approximately $234,000. Pekin Hardy Strauss Inc. purchased a new position in shares of Turning Point Brands during the 3rd quarter worth approximately $1,260,000. 272 Capital LP purchased a new position in shares of Turning Point Brands during the 3rd quarter worth approximately $1,488,000. Finally, Legato Capital Management LLC bought a new position in shares of Turning Point Brands in the 4th quarter worth approximately $278,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TPB has been the topic of several research reports. Roth Mkm restated a "buy" rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a report on Thursday, March 6th. Craig Hallum increased their price target on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. StockNews.com lowered shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research note on Tuesday, March 11th. Finally, Alliance Global Partners started coverage on shares of Turning Point Brands in a report on Monday, March 3rd. They issued a "buy" rating and a $80.00 price objective on the stock. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $73.33.

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Turning Point Brands Stock Down 0.1 %

Turning Point Brands stock traded down $0.08 during mid-day trading on Tuesday, reaching $58.96. The stock had a trading volume of 118,827 shares, compared to its average volume of 146,695. Turning Point Brands, Inc. has a one year low of $26.45 and a one year high of $72.54. The company has a 50-day moving average price of $62.99 and a two-hundred day moving average price of $55.70. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 23.40 and a beta of 0.75. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.

Turning Point Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be given a dividend of $0.075 per share. The ex-dividend date is Friday, March 21st. This represents a $0.30 annualized dividend 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 (DPR) 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.