Turning Point Brands, Inc. (NYSE:TPB) Shares Purchased by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC raised its position in Turning Point Brands, Inc. (NYSE:TPB) by 13.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,089 shares of the company’s stock after purchasing an additional 840 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Turning Point Brands were worth $426,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TPB. First Sabrepoint Capital Management LP acquired a new position in shares of Turning Point Brands in the third quarter worth about $7,517,000. Charles Schwab Investment Management Inc. raised its stake in shares of Turning Point Brands by 40.2% in the 4th 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. raised its stake in shares of Turning Point Brands by 84.5% in the 3rd 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 in the last quarter. 272 Capital LP acquired a new stake in shares of Turning Point Brands in the 3rd quarter valued at about $1,488,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in shares of Turning Point Brands in the 3rd quarter valued at about $1,260,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Trading Down 0.4 %

Turning Point Brands stock opened at $57.97 on Tuesday. The firm has a 50 day simple moving average of $62.73 and a 200-day simple moving average of $54.93. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The stock has a market capitalization of $1.03 billion, a PE ratio of 23.00 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.

Turning Point Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders 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 dividend yield of 0.52%. Turning Point Brands’s dividend payout ratio (DPR) is 14.15%.

Analysts Set New Price Targets

Several research firms recently weighed in on TPB. Alliance Global Partners began coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They set a “buy” rating and a $80.00 price objective on the stock. StockNews.com lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Roth Mkm restated a “buy” rating and issued a $70.00 price target on shares of Turning Point Brands in a research note on Friday, January 10th. Craig Hallum raised their price target 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. Finally, Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a research note on Thursday, March 6th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $73.33.

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.