Turning Point Brands, Inc. (NYSE:TPB) Shares Acquired by Access Investment Management LLC

Access Investment Management LLC increased its position in shares of Turning Point Brands, Inc. (NYSE:TPB) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 122,125 shares of the company’s stock after acquiring an additional 540 shares during the quarter. Turning Point Brands makes up approximately 2.1% of Access Investment Management LLC’s holdings, making the stock its 16th biggest holding. Access Investment Management LLC owned approximately 0.69% of Turning Point Brands worth $7,340,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Martingale Asset Management L P boosted its holdings in shares of Turning Point Brands by 1.4% during the third quarter. Martingale Asset Management L P now owns 24,686 shares of the company’s stock worth $1,065,000 after purchasing an additional 329 shares during the last quarter. Principal Financial Group Inc. boosted 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 buying an additional 482 shares during the last quarter. USA Financial Formulas purchased a new stake in Turning Point Brands in the 4th quarter valued at about $73,000. Stifel Financial Corp boosted its position in shares of Turning Point Brands by 6.8% in the third quarter. Stifel Financial Corp now owns 25,646 shares of the company’s stock worth $1,107,000 after acquiring an additional 1,634 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Turning Point Brands by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 145,281 shares of the company’s stock worth $6,269,000 after purchasing an additional 2,442 shares during the last quarter. 96.12% of the stock is owned by hedge funds and other institutional investors.

Turning Point Brands Trading Down 1.8 %

NYSE TPB opened at $67.94 on Friday. The stock has a market cap of $1.20 billion, a P/E ratio of 26.96 and a beta of 0.65. The company’s fifty day simple moving average is $61.32 and its 200-day simple moving average is $51.98. 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, Inc. has a 52 week low of $22.47 and a 52 week high of $70.99.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. StockNews.com cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Roth Mkm restated a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a research note on Friday, January 10th. Craig Hallum raised their price objective on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Finally, Benchmark raised their price target on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Turning Point Brands has an average rating of “Buy” and an average target price of $68.75.

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.