Thrivent Financial for Lutherans Has $38.48 Million Stock Position in Turning Point Brands, Inc. (NYSE:TPB)

Thrivent Financial for Lutherans reduced its stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 15.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 640,271 shares of the company's stock after selling 116,313 shares during the period. Thrivent Financial for Lutherans owned approximately 3.62% of Turning Point Brands worth $38,481,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in TPB. Martingale Asset Management L P grew its holdings in Turning Point Brands by 1.4% in the third quarter. Martingale Asset Management L P now owns 24,686 shares of the company's stock valued at $1,065,000 after purchasing an additional 329 shares during the last quarter. Principal Financial Group Inc. raised its position in Turning Point Brands by 7.1% during the fourth quarter. Principal Financial Group Inc. now owns 7,247 shares of the company's stock worth $436,000 after acquiring an additional 482 shares during the last quarter. Access Investment Management LLC lifted its holdings in shares of Turning Point Brands by 0.4% in the fourth quarter. Access Investment Management LLC now owns 122,125 shares of the company's stock valued at $7,340,000 after purchasing an additional 540 shares in the last quarter. Counterpoint Mutual Funds LLC grew its position in shares of Turning Point Brands by 13.4% in the fourth 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 last quarter. Finally, Moran Wealth Management LLC increased its stake in shares of Turning Point Brands by 16.4% during 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 in the last quarter. Hedge funds and other institutional investors own 96.12% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Roth Mkm reiterated a "buy" rating and set a $70.00 target price on shares of Turning Point Brands in a report on Friday, January 10th. Industrial Alliance Securities set a $85.00 price objective on 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 note on Monday, March 3rd. They set a "buy" rating and a $80.00 price objective on the stock. Craig Hallum lifted their price target on Turning Point Brands from $60.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Finally, StockNews.com downgraded shares of 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 issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $73.33.

Turning Point Brands Trading Up 2.1 %

TPB stock traded up $1.19 during midday trading on Monday, reaching $58.84. 125,692 shares of the company's stock traded hands, compared to its average volume of 146,522. Turning Point Brands, Inc. has a fifty-two week low of $26.45 and a fifty-two week high of $72.54. The business has a 50-day moving average price of $62.87 and a two-hundred day moving average price of $55.43. The company has a market capitalization of $1.05 billion, a P/E ratio of 23.35 and a beta of 0.75. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.

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 is a boost from Turning Point Brands's previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Friday, March 21st. Turning Point Brands's payout ratio is presently 14.15%.

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.