AlphaQuest LLC Has $248,000 Stock Holdings in Turning Point Brands, Inc. (NYSE:TPB)

AlphaQuest LLC boosted its position in Turning Point Brands, Inc. (NYSE:TPB) by 56.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,131 shares of the company’s stock after purchasing an additional 1,490 shares during the period. AlphaQuest LLC’s holdings in Turning Point Brands were worth $248,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position in shares of 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 valued at $12,243,000 after buying an additional 58,425 shares during the last quarter. Levin Capital Strategies L.P. bought a new stake in Turning Point Brands in the 4th quarter valued at $212,000. Access Investment Management LLC lifted its holdings in Turning Point Brands by 0.4% during the 4th quarter. Access Investment Management LLC now owns 122,125 shares of the company’s stock valued at $7,340,000 after purchasing an additional 540 shares during the last quarter. Ieq Capital LLC bought a new position in Turning Point Brands during the fourth quarter worth $368,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Turning Point Brands by 7.1% in the fourth quarter. Principal Financial Group Inc. now owns 7,247 shares of the company’s stock valued at $436,000 after purchasing an additional 482 shares during the last quarter. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Price Performance

Shares of NYSE TPB opened at $58.41 on Friday. The stock has a market capitalization of $1.04 billion, a PE ratio of 23.18 and a beta of 0.75. Turning Point Brands, Inc. has a fifty-two week low of $26.45 and a fifty-two week high of $72.54. 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 business has a fifty day moving average price of $62.71 and a two-hundred day moving average price of $54.69.

Turning Point Brands Increases Dividend

The company also recently announced 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. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Friday, March 21st. Turning Point Brands’s dividend payout ratio (DPR) is currently 14.15%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TPB. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They set a “buy” rating and a $80.00 target price for the company. Roth Mkm restated a “buy” rating and set a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Craig Hallum upped their target price on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. StockNews.com cut Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Finally, Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a report on Thursday, March 6th. One 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. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $73.33.

Turning Point Brands 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.