Teacher Retirement System of Texas Cuts Stock Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Teacher Retirement System of Texas reduced its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 40.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,799 shares of the company's stock after selling 37,875 shares during the period. Teacher Retirement System of Texas owned about 0.31% of Turning Point Brands worth $3,293,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new position in Turning Point Brands in the fourth quarter valued at $73,000. Levin Capital Strategies L.P. purchased a new position in shares of Turning Point Brands in the 4th quarter valued at about $212,000. Entropy Technologies LP purchased a new position in shares of Turning Point Brands in the 4th quarter valued at about $234,000. AlphaQuest LLC grew its position in shares of Turning Point Brands by 56.4% during the fourth quarter. AlphaQuest LLC now owns 4,131 shares of the company's stock worth $248,000 after buying an additional 1,490 shares in the last quarter. Finally, Legato Capital Management LLC purchased a new stake in shares of Turning Point Brands during the fourth quarter worth approximately $278,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Stock Performance

Shares of Turning Point Brands stock traded down $0.02 during trading on Friday, reaching $58.96. The company's stock had a trading volume of 220,213 shares, compared to its average volume of 151,368. The company has a 50-day moving average price of $63.13 and a two-hundred day moving average price of $56.00. Turning Point Brands, Inc. has a fifty-two week low of $26.45 and a fifty-two week high of $72.54. The firm has a market cap of $1.05 billion, a PE ratio of 23.40 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.

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Turning Point Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.51%. This is a boost 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

TPB has been the subject of a number of recent research reports. Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a research note on Thursday, March 6th. Alliance Global Partners started coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They set a "buy" rating and a $80.00 price objective for the company. Roth Mkm reissued a "buy" rating and issued a $70.00 target price on shares of Turning Point Brands in a report on Friday, January 10th. Craig Hallum lifted their price target on Turning Point Brands from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Finally, StockNews.com downgraded Turning Point Brands from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th. One equities research 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. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $73.33.

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.