Turning Point Brands, Inc. (NYSE:TPB) Stock Position Lifted by XTX Topco Ltd

XTX Topco Ltd raised its stake in Turning Point Brands, Inc. (NYSE:TPB) by 90.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,163 shares of the company’s stock after buying an additional 9,104 shares during the quarter. XTX Topco Ltd owned 0.11% of Turning Point Brands worth $1,152,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Stifel Financial Corp lifted its holdings in shares of Turning Point Brands by 6.8% during the 3rd quarter. Stifel Financial Corp now owns 25,646 shares of the company’s stock valued at $1,107,000 after buying an additional 1,634 shares during the last quarter. Jane Street Group LLC raised its position in Turning Point Brands by 9.9% during the third quarter. Jane Street Group LLC now owns 29,228 shares of the company’s stock valued at $1,261,000 after acquiring an additional 2,637 shares in the last quarter. Barclays PLC lifted its stake in Turning Point Brands by 298.6% in the third quarter. Barclays PLC now owns 29,274 shares of the company’s stock valued at $1,262,000 after acquiring an additional 21,930 shares during the last quarter. Geode Capital Management LLC grew its position in Turning Point Brands by 3.9% in the third quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock worth $17,506,000 after acquiring an additional 15,344 shares in the last quarter. Finally, 272 Capital LP acquired a new position in shares of Turning Point Brands during the 3rd quarter worth $1,488,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TPB shares. 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 price target on Turning Point Brands in a research note on Thursday, March 6th. Roth Mkm reissued a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a research note on Friday, January 10th. Finally, StockNews.com lowered Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. One research 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. Based on data from MarketBeat, Turning Point Brands presently has an average rating of “Buy” and a consensus price target of $73.33.

Turning Point Brands Trading Up 0.6 %

Shares of NYSE:TPB opened at $57.24 on Wednesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The stock’s 50-day moving average is $62.17 and its 200-day moving average is $57.51. The company has a market cap of $1.02 billion, a P/E ratio of 22.71 and a beta of 0.70. 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 firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.30 dividend on an annualized basis and a yield of 0.52%. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.07. Turning Point Brands’s dividend payout ratio (DPR) is 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.