American Century Companies Inc. Sells 55,986 Shares of Turning Point Brands, Inc. (NYSE:TPB)

American Century Companies Inc. lowered its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 622,759 shares of the company’s stock after selling 55,986 shares during the quarter. American Century Companies Inc. owned approximately 3.52% of Turning Point Brands worth $37,428,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. USA Financial Formulas bought a new position in Turning Point Brands in the fourth quarter worth approximately $73,000. Levin Capital Strategies L.P. purchased a new position in shares of Turning Point Brands in the 4th quarter valued at $212,000. Entropy Technologies LP bought a new position in shares of Turning Point Brands in the 4th quarter worth $234,000. AlphaQuest LLC lifted its stake in shares of Turning Point Brands by 56.4% during the 4th quarter. AlphaQuest LLC now owns 4,131 shares of the company’s stock worth $248,000 after purchasing an additional 1,490 shares during the last quarter. Finally, Semanteon Capital Management LP bought a new stake in Turning Point Brands during the fourth quarter valued at about $271,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Trading Up 0.3 %

Shares of Turning Point Brands stock opened at $59.29 on Friday. The firm’s 50 day simple moving average is $63.10 and its two-hundred day simple moving average is $55.75. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 23.53 and a beta of 0.75. Turning Point Brands, Inc. has a 12-month low of $26.45 and a 12-month high of $72.54. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

Turning Point Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.51%. This is an increase 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 Ratings Changes

TPB has been the subject of several analyst reports. StockNews.com lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Roth Mkm reissued a “buy” rating and set a $70.00 target price on shares of Turning Point Brands in a research report on Friday, January 10th. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They issued a “buy” rating and a $80.00 target price for the company. Craig Hallum upped their price target on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a research report on Thursday, March 6th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Turning Point Brands presently has an average rating of “Buy” and a consensus target price of $73.33.

About Turning Point Brands

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.