Jump Financial LLC Grows Position in Turning Point Brands, Inc. (NYSE:TPB)

Jump Financial LLC boosted its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 60.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,500 shares of the company's stock after buying an additional 6,939 shares during the period. Jump Financial LLC owned approximately 0.10% of Turning Point Brands worth $1,112,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Turning Point Brands by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 1,524,640 shares of the company's stock worth $91,631,000 after acquiring an additional 18,440 shares in the last quarter. Geode Capital Management LLC grew its position in Turning Point Brands by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company's stock worth $17,506,000 after purchasing an additional 15,344 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Turning Point Brands by 36.1% in 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 last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 worth $12,243,000 after buying an additional 58,425 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Turning Point Brands by 1.8% in the 4th quarter. Federated Hermes Inc. now owns 157,618 shares of the company's stock worth $9,473,000 after buying an additional 2,802 shares during the last quarter. 96.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com raised shares of Turning Point Brands from a "hold" rating to a "buy" rating in a report on Friday, April 18th. Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a research note on Thursday, March 6th. Roth Mkm reiterated a "buy" rating and issued 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 Turning Point Brands in a research note on Monday, March 3rd. They issued a "buy" rating and a $80.00 target price on the stock. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $73.33.

Turning Point Brands Price Performance

Shares of TPB stock traded up $0.18 during trading on Friday, hitting $59.36. The company had a trading volume of 58,420 shares, compared to its average volume of 161,077. Turning Point Brands, Inc. has a 52 week low of $27.48 and a 52 week high of $72.54. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 23.55 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 stock's 50-day moving average is $60.39 and its two-hundred day moving average is $58.29.

Turning Point Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were paid a dividend of $0.075 per share. The ex-dividend date was Friday, March 21st. This is an increase from Turning Point Brands's previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a dividend yield of 0.51%. Turning Point Brands's dividend payout ratio (DPR) is 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.