Turning Point Brands, Inc. (NYSE:TPB) Position Trimmed by AdvisorShares Investments LLC

AdvisorShares Investments LLC lowered its stake in Turning Point Brands, Inc. (NYSE:TPB) by 58.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,669 shares of the company’s stock after selling 7,900 shares during the period. AdvisorShares Investments LLC’s holdings in Turning Point Brands were worth $341,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sei Investments Co. grew its holdings in shares of Turning Point Brands by 0.4% in the 4th quarter. Sei Investments Co. now owns 78,087 shares of the company’s stock worth $4,693,000 after acquiring an additional 283 shares during the last quarter. Principal Financial Group Inc. increased its stake in Turning Point Brands by 7.1% in the 4th quarter. Principal Financial Group Inc. now owns 7,247 shares of the company’s stock worth $436,000 after purchasing an additional 482 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Turning Point Brands by 29.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock worth $142,000 after purchasing an additional 532 shares in the last quarter. Access Investment Management LLC raised 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 worth $7,340,000 after buying an additional 540 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in Turning Point Brands by 6.0% during the fourth quarter. MetLife Investment Management LLC now owns 10,373 shares of the company’s stock valued at $623,000 after buying an additional 587 shares in the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Price Performance

TPB opened at $60.60 on Wednesday. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 24.05 and a beta of 0.70. The stock has a fifty day moving average price of $60.02 and a 200 day moving average price of $58.66. Turning Point Brands, Inc. has a 1 year low of $28.27 and a 1 year high of $72.54. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

Turning Point Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.50%. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, March 21st. Turning Point Brands’s payout ratio is currently 14.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Roth Mkm restated 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 research note on Thursday, March 6th. StockNews.com raised Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Friday, April 18th. Finally, Alliance Global Partners assumed coverage on Turning Point Brands in a research report on Monday, March 3rd. They set a “buy” rating and a $80.00 price target on the stock. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $73.33.

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.