Marshall Wace LLP Trims Position in Turning Point Brands, Inc. (NYSE:TPB)

Marshall Wace LLP trimmed its stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 36.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,714 shares of the company's stock after selling 45,136 shares during the quarter. Marshall Wace LLP owned about 0.44% of Turning Point Brands worth $4,731,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Jane Street Group LLC increased its stake in shares of Turning Point Brands by 9.9% during the third quarter. Jane Street Group LLC now owns 29,228 shares of the company's stock worth $1,261,000 after acquiring an additional 2,637 shares during the period. Barclays PLC increased its position in Turning Point Brands by 298.6% during the 3rd quarter. Barclays PLC now owns 29,274 shares of the company's stock worth $1,262,000 after purchasing an additional 21,930 shares during the period. Geode Capital Management LLC raised its stake in shares of Turning Point Brands by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company's stock worth $17,506,000 after buying an additional 15,344 shares in the last quarter. 272 Capital LP acquired a new stake in shares of Turning Point Brands in the 3rd quarter valued at approximately $1,488,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Turning Point Brands by 84.5% in the third quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company's stock valued at $5,311,000 after buying an additional 56,364 shares in the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TPB shares. Roth Mkm reiterated a "buy" rating and issued a $70.00 price objective on shares of Turning Point Brands in a research report on Friday, January 10th. StockNews.com upgraded shares of Turning Point Brands from a "hold" rating to a "buy" rating in a report on Friday, April 18th. Alliance Global Partners assumed 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 objective for the company. Finally, Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a research report on Thursday, March 6th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Turning Point Brands presently has an average rating of "Buy" and an average target price of $73.33.

Turning Point Brands Price Performance

Shares of Turning Point Brands stock remained flat at $59.31 on Monday. 77,420 shares of the company traded hands, compared to its average volume of 161,062. The stock has a market cap of $1.05 billion, a P/E ratio of 23.54 and a beta of 0.70. Turning Point Brands, Inc. has a 1-year low of $28.16 and a 1-year high of $72.54. The business has a 50-day moving average of $60.39 and a two-hundred day moving average of $58.53. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33.

Turning Point Brands Increases Dividend

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