XTX Topco Ltd Buys 9,104 Shares of Turning Point Brands, Inc. (NYSE:TPB)

XTX Topco Ltd boosted its holdings in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 90.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,163 shares of the company's stock after purchasing an additional 9,104 shares during the quarter. XTX Topco Ltd owned about 0.11% of Turning Point Brands worth $1,152,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Barclays PLC boosted its stake in Turning Point Brands by 13.6% in the 4th quarter. Barclays PLC now owns 33,264 shares of the company's stock worth $1,998,000 after purchasing an additional 3,990 shares in the last quarter. CenterBook Partners LP bought a new stake in shares of Turning Point Brands during the fourth quarter valued at approximately $435,000. Martingale Asset Management L P raised its holdings in Turning Point Brands by 6.2% in the 4th quarter. Martingale Asset Management L P now owns 26,208 shares of the company's stock worth $1,575,000 after acquiring an additional 1,522 shares during the last quarter. Invesco Ltd. boosted its stake in Turning Point Brands by 205.8% during the 4th quarter. Invesco Ltd. now owns 97,261 shares of the company's stock valued at $5,845,000 after purchasing an additional 65,457 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Turning Point Brands by 1.8% in the fourth quarter. Federated Hermes Inc. now owns 157,618 shares of the company's stock worth $9,473,000 after purchasing an additional 2,802 shares during the last quarter. Institutional investors own 96.12% of the company's stock.

Analysts Set New Price Targets

TPB has been the subject of several research analyst reports. StockNews.com upgraded Turning Point Brands from a "hold" rating to a "buy" rating in a report on Friday. Roth Mkm restated a "buy" rating and set a $70.00 price objective on shares of Turning Point Brands in a research report on Friday, January 10th. Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a research note on Thursday, March 6th. Finally, Alliance Global Partners started coverage on Turning Point Brands in a research note on Monday, March 3rd. They issued a "buy" rating and a $80.00 price target on the stock. Six research 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, the company presently has an average rating of "Buy" and a consensus target price of $73.33.

Turning Point Brands Stock Performance

Shares of NYSE:TPB traded down $0.56 during mid-day trading on Monday, reaching $57.23. 7,383 shares of the company traded hands, compared to its average volume of 216,061. 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, Inc. has a 52 week low of $27.48 and a 52 week high of $72.54. The firm has a market cap of $1.02 billion, a PE ratio of 22.71 and a beta of 0.70. The company's 50 day moving average price is $61.56 and its 200-day moving average price is $57.93.

Turning Point Brands Increases Dividend

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