Turning Point Brands, Inc. (NYSE:TPB) Shares Sold by RBF Capital LLC

RBF Capital LLC reduced its position in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 18.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,000 shares of the company's stock after selling 7,886 shares during the period. RBF Capital LLC owned 0.20% of Turning Point Brands worth $2,104,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Turning Point Brands by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 61,727 shares of the company's stock worth $3,711,000 after buying an additional 1,769 shares during the last quarter. State of Tennessee Department of Treasury increased its stake in Turning Point Brands by 38.2% during the fourth quarter. State of Tennessee Department of Treasury now owns 4,700 shares of the company's stock worth $282,000 after acquiring an additional 1,300 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Turning Point Brands by 29.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock valued at $142,000 after purchasing an additional 532 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Turning Point Brands by 6.0% in the 4th quarter. MetLife Investment Management LLC now owns 10,373 shares of the company's stock valued at $623,000 after purchasing an additional 587 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Turning Point Brands during the 4th quarter worth $1,010,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Turning Point Brands Stock Performance

Shares of TPB stock opened at $57.73 on Wednesday. The firm has a 50 day moving average of $61.04 and a two-hundred day moving average of $58.03. The stock has a market capitalization of $1.03 billion, a PE ratio of 22.91 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. Turning Point Brands, Inc. has a 52 week low of $27.48 and a 52 week high of $72.54.

Turning Point Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 21st were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.52%. This is a boost from Turning Point Brands's previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, March 21st. Turning Point Brands's payout ratio is presently 14.15%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TPB. Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a research report on Thursday, March 6th. Roth Mkm restated a "buy" rating and issued a $70.00 price objective on shares of Turning Point Brands in a 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. Finally, 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. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Turning Point Brands currently has an average rating of "Buy" and a consensus 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.

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