Quantbot Technologies LP Acquires 8,733 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Quantbot Technologies LP boosted its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 577.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,245 shares of the company's stock after acquiring an additional 8,733 shares during the quarter. Quantbot Technologies LP owned 0.06% of Turning Point Brands worth $616,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Semanteon Capital Management LP bought a new position in shares of Turning Point Brands during the fourth quarter worth about $271,000. Counterpoint Mutual Funds LLC increased its position in Turning Point Brands by 13.4% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 7,089 shares of the company's stock valued at $426,000 after purchasing an additional 840 shares during the period. Thompson Siegel & Walmsley LLC acquired a new stake in Turning Point Brands during the 4th quarter valued at approximately $361,000. King Luther Capital Management Corp bought a new position in Turning Point Brands during the 4th quarter worth approximately $1,374,000. Finally, Moran Wealth Management LLC lifted its position in shares of Turning Point Brands by 16.4% in the 4th 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. Institutional investors own 96.12% of the company's stock.

Turning Point Brands Stock Up 0.9 %

TPB stock traded up $0.52 during trading on Monday, reaching $59.34. 225,033 shares of the stock were exchanged, compared to its average volume of 151,661. The firm's 50 day moving average is $63.16 and its 200 day moving average is $56.27. The firm has a market cap of $1.06 billion, a P/E ratio of 23.55 and a beta of 0.75. 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 twelve month low of $26.45 and a twelve month high of $72.54.

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Turning Point Brands Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a research note on Thursday, March 6th. Roth Mkm reissued a "buy" rating and issued a $70.00 price objective on shares of Turning Point Brands in a research report on Friday, January 10th. Craig Hallum upped their target price 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. Alliance Global Partners assumed coverage on Turning Point Brands in a research note on Monday, March 3rd. They set a "buy" rating and a $80.00 target price for the company. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $73.33.

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.