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

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPB. Counterpoint Mutual Funds LLC increased its stake in shares of Turning Point Brands by 13.4% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 7,089 shares of the company's stock valued at $426,000 after acquiring an additional 840 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Turning Point Brands during the fourth quarter valued at approximately $361,000. King Luther Capital Management Corp bought a new stake in Turning Point Brands in the fourth quarter valued at approximately $1,374,000. Moran Wealth Management LLC raised its holdings in Turning Point Brands by 16.4% in the fourth quarter. Moran Wealth Management LLC now owns 6,368 shares of the company's stock worth $383,000 after purchasing an additional 897 shares during the period. Finally, AlphaQuest LLC boosted its position in shares of Turning Point Brands by 56.4% during the fourth quarter. AlphaQuest LLC now owns 4,131 shares of the company's stock worth $248,000 after purchasing an additional 1,490 shares in the last quarter. Institutional investors own 96.12% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently 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. StockNews.com lowered Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Craig Hallum boosted their price objective on Turning Point Brands from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Roth Mkm reissued a "buy" rating and set a $70.00 target price 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 note on Monday, March 3rd. They issued a "buy" rating and a $80.00 price target on the stock. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $73.33.

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Turning Point Brands Stock Up 0.4 %

Turning Point Brands stock traded up $0.22 during midday trading on Wednesday, reaching $59.11. The stock had a trading volume of 117,962 shares, compared to its average volume of 146,574. The stock has a market capitalization of $1.06 billion, a P/E ratio of 23.45 and a beta of 0.75. The firm's fifty day simple moving average is $62.99 and its 200-day simple moving average is $55.70. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. Turning Point Brands, Inc. has a 1-year low of $26.45 and a 1-year high of $72.54.

Turning Point Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be issued a dividend of $0.075 per share. This is a boost from Turning Point Brands's previous quarterly dividend of $0.07. The ex-dividend date is Friday, March 21st. This represents a $0.30 annualized dividend and a yield of 0.51%. Turning Point Brands's dividend payout ratio is presently 14.15%.

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.