Vanguard Group Inc. Grows Stock Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Vanguard Group Inc. lifted its position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,524,640 shares of the company's stock after buying an additional 18,440 shares during the period. Vanguard Group Inc. owned approximately 8.61% of Turning Point Brands worth $91,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Geode Capital Management LLC grew its position 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 valued at $17,506,000 after acquiring an additional 15,344 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Turning Point Brands by 40.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company's stock valued at $12,243,000 after purchasing an additional 58,425 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Turning Point Brands by 84.5% during the third quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company's stock valued at $5,311,000 after purchasing an additional 56,364 shares during the period. Access Investment Management LLC increased its position in Turning Point Brands by 0.4% in the fourth quarter. Access Investment Management LLC now owns 122,125 shares of the company's stock worth $7,340,000 after buying an additional 540 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Turning Point Brands by 0.4% in the fourth quarter. Sei Investments Co. now owns 78,087 shares of the company's stock worth $4,693,000 after buying an additional 283 shares during the period. Institutional investors own 96.12% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Roth Mkm reiterated a "buy" rating and set a $70.00 price objective on shares of Turning Point Brands in a research note on Friday, January 10th. Alliance Global Partners started 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. Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a research note on Thursday, March 6th. Finally, StockNews.com lowered Turning Point Brands from a "buy" rating to a "hold" rating in a research note 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 given a strong buy rating to the company's stock. According to MarketBeat.com, Turning Point Brands has a consensus rating of "Buy" and an average price target of $73.33.

Turning Point Brands Price Performance

TPB stock traded up $0.05 during mid-day trading on Tuesday, hitting $56.96. The company had a trading volume of 11,472 shares, compared to its average volume of 218,757. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 22.67 and a beta of 0.70. The company has a 50-day moving average price of $62.37 and a 200 day moving average price of $57.51. 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 12-month low of $26.45 and a 12-month high of $72.54.

Turning Point Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 21st were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.53%. This is a boost from Turning Point Brands's previous quarterly dividend of $0.07. The ex-dividend date was Friday, March 21st. Turning Point Brands's dividend payout ratio is 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.