Turning Point Brands, Inc. (NYSE:TPB) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its stake in shares of Turning Point Brands, Inc. (NYSE:TPB) by 40.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,799 shares of the company’s stock after selling 37,875 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.31% of Turning Point Brands worth $3,293,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TPB. Counterpoint Mutual Funds LLC boosted its holdings in shares of Turning Point Brands by 13.4% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 7,089 shares of the company’s stock valued at $426,000 after acquiring an additional 840 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in Turning Point Brands during the 4th quarter valued at about $361,000. King Luther Capital Management Corp bought a new position in Turning Point Brands in the 4th quarter worth about $1,374,000. Moran Wealth Management LLC increased its stake in shares of Turning Point Brands by 16.4% in the fourth quarter. Moran Wealth Management LLC now owns 6,368 shares of the company’s stock valued at $383,000 after purchasing an additional 897 shares during the period. Finally, AlphaQuest LLC raised its holdings in shares of Turning Point Brands by 56.4% during the fourth quarter. AlphaQuest LLC now owns 4,131 shares of the company’s stock valued at $248,000 after buying an additional 1,490 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on TPB shares. Alliance Global Partners initiated coverage on Turning Point Brands in a research report on Monday, March 3rd. They issued a “buy” rating and a $80.00 target price on the stock. Craig Hallum increased 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 report on Thursday, December 5th. Roth Mkm restated a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a report on Thursday, March 6th. Finally, StockNews.com cut Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. One equities 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. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $73.33.

Turning Point Brands Stock Down 0.1 %

NYSE TPB opened at $58.96 on Wednesday. Turning Point Brands, Inc. has a 12 month low of $26.45 and a 12 month high of $72.54. The company has a market capitalization of $1.05 billion, a P/E ratio of 23.40 and a beta of 0.75. The company’s 50 day simple moving average is $62.99 and its 200 day simple moving average is $55.70. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.

Turning Point Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders 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 represents a $0.30 annualized dividend and a dividend yield of 0.51%. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.07. 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.