Turning Point Brands, Inc. (NYSE:TPB) Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP lifted its position in shares of Turning Point Brands, Inc. (NYSE:TPB) by 577.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,245 shares of the company’s stock after purchasing an additional 8,733 shares during the quarter. Quantbot Technologies LP owned about 0.06% of Turning Point Brands worth $616,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Turning Point Brands during the third quarter worth approximately $326,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Turning Point Brands by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 145,281 shares of the company’s stock valued at $6,269,000 after acquiring an additional 2,442 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Turning Point Brands by 22.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 38,571 shares of the company’s stock worth $1,664,000 after purchasing an additional 7,170 shares during the period. Martingale Asset Management L P increased its holdings in Turning Point Brands by 1.4% in the 3rd 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 in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Turning Point Brands in the 3rd quarter valued at $435,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Wall Street Analyst Weigh In

TPB has been the topic of a number of recent research reports. Roth Mkm restated a “buy” rating and set a $70.00 price objective on shares of Turning Point Brands in a research note on Friday, January 10th. StockNews.com lowered Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Alliance Global Partners began coverage on shares of Turning Point Brands in a research report 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 report on Thursday, March 6th. Finally, Craig Hallum upped their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $73.33.

Turning Point Brands Price Performance

TPB stock opened at $59.29 on Friday. The company has a market capitalization of $1.06 billion, a PE ratio of 23.53 and a beta of 0.75. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The stock’s 50 day moving average is $63.10 and its two-hundred day moving average is $55.75. Turning Point Brands, Inc. has a 52-week low of $26.45 and a 52-week high of $72.54.

Turning Point Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, March 21st. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a yield of 0.51%. Turning Point Brands’s dividend payout ratio is currently 14.15%.

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.