Thompson Siegel & Walmsley LLC Purchases New Position in Turning Point Brands, Inc. (NYSE:TPB)

Thompson Siegel & Walmsley LLC purchased a new position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,000 shares of the company's stock, valued at approximately $361,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Corsair Capital Management L.P. grew its holdings in shares of Turning Point Brands by 49.0% in the 3rd quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company's stock worth $1,312,000 after acquiring an additional 10,000 shares during the period. Entropy Technologies LP purchased a new stake in Turning Point Brands in the 4th quarter valued at approximately $234,000. Pekin Hardy Strauss Inc. purchased a new stake in Turning Point Brands in the 3rd quarter valued at approximately $1,260,000. 272 Capital LP purchased a new stake in Turning Point Brands in the 3rd quarter valued at approximately $1,488,000. Finally, Legato Capital Management LLC purchased a new stake in Turning Point Brands in the 4th quarter valued at approximately $278,000. Institutional investors and hedge funds own 96.12% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Roth Mkm reaffirmed a "buy" rating and issued a $70.00 target price on shares of Turning Point Brands in a research note on Friday, January 10th. Alliance Global Partners initiated coverage on Turning Point Brands in a research note on Monday, March 3rd. They set a "buy" rating and a $80.00 price target on the stock. Craig Hallum increased their price target on Turning Point Brands from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a research note on Thursday, March 6th. Finally, StockNews.com lowered 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $73.33.

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Turning Point Brands Trading Up 0.9 %

Shares of TPB stock traded up $0.54 on Wednesday, reaching $57.85. 169,643 shares of the stock were exchanged, compared to its average volume of 145,593. The stock has a market cap of $1.03 billion, a P/E ratio of 22.96 and a beta of 0.74. 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 has a 50 day moving average of $62.75 and a two-hundred day moving average of $55.05. 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 business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be issued a $0.075 dividend. This is an increase from Turning Point Brands's previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Friday, March 21st. Turning Point Brands's dividend payout ratio is currently 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.