Turning Point Brands (NYSE:TPB) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Turning Point Brands (NYSE:TPB) from a hold rating to a buy rating in a research note issued to investors on Friday.

Several other equities analysts also recently weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a report on Friday, January 10th. Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a report on Thursday, March 6th. Finally, Alliance Global Partners assumed coverage on Turning Point Brands in a research note on Monday, March 3rd. They issued a “buy” rating and a $80.00 price target for the company. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Turning Point Brands has an average rating of “Buy” and a consensus target price of $73.33.

Turning Point Brands Stock Up 0.8 %

NYSE TPB opened at $57.72 on Friday. Turning Point Brands has a 52 week low of $26.87 and a 52 week high of $72.54. 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 company has a market capitalization of $1.03 billion, a P/E ratio of 22.90 and a beta of 0.70. The stock’s 50-day moving average price is $61.56 and its 200-day moving average price is $57.71.

Turning Point Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 21st were given a $0.075 dividend. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Friday, March 21st. Turning Point Brands’s payout ratio is currently 14.15%.

Institutional Trading of Turning Point Brands

A number of large investors have recently added to or reduced their stakes in TPB. Northern Right Capital Management L.P. grew its holdings in shares of Turning Point Brands by 356.6% in the fourth quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company’s stock valued at $8,075,000 after purchasing an additional 104,931 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Turning Point Brands by 36.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company’s stock worth $19,145,000 after buying an additional 84,552 shares in the last quarter. Invesco Ltd. raised its position in shares of Turning Point Brands by 205.8% during the 4th quarter. Invesco Ltd. now owns 97,261 shares of the company’s stock valued at $5,845,000 after buying an additional 65,457 shares in the last quarter. Portolan Capital Management LLC bought a new position in shares of Turning Point Brands in the 4th quarter valued at about $3,817,000. Finally, Charles Schwab Investment Management Inc. grew its position in Turning Point Brands by 40.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company’s stock worth $12,243,000 after acquiring an additional 58,425 shares in the last quarter. Institutional investors own 96.12% of the company’s stock.

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.