32,274 Shares in Turning Point Brands, Inc. (NYSE:TPB) Purchased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP acquired a new stake in Turning Point Brands, Inc. (NYSE:TPB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 32,274 shares of the company’s stock, valued at approximately $1,940,000.

A number of other hedge funds also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA bought a new position in shares of Turning Point Brands in the fourth quarter valued at about $1,207,000. Trexquant Investment LP raised its holdings in Turning Point Brands by 60.0% in the 4th quarter. Trexquant Investment LP now owns 52,917 shares of the company’s stock valued at $3,180,000 after acquiring an additional 19,847 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Turning Point Brands by 36.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company’s stock worth $19,145,000 after acquiring an additional 84,552 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Turning Point Brands by 15.6% during the fourth quarter. JPMorgan Chase & Co. now owns 142,251 shares of the company’s stock worth $8,549,000 after acquiring an additional 19,172 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Turning Point Brands by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,524,640 shares of the company’s stock valued at $91,631,000 after purchasing an additional 18,440 shares during the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands Stock Down 0.3 %

Shares of NYSE TPB opened at $55.09 on Wednesday. The stock has a market capitalization of $978.49 million, a P/E ratio of 21.86 and a beta of 0.70. The stock’s fifty day moving average is $62.93 and its 200 day moving average is $56.99. Turning Point Brands, Inc. has a 52 week low of $26.45 and a 52 week high of $72.54. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21.

Turning Point Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be given 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 0.54%. Turning Point Brands’s payout ratio is presently 14.15%.

Wall Street Analyst Weigh In

TPB has been the subject of several research reports. StockNews.com cut Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Alliance Global Partners assumed coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They issued a “buy” rating and a $80.00 target price for the company. Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a research report on Thursday, March 6th. Finally, Roth Mkm reiterated a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a research note on Friday, January 10th. 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’s stock. Based on data from MarketBeat.com, Turning Point Brands presently has a consensus rating of “Buy” and a consensus 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.