Boston Partners Sells 13,350 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Boston Partners decreased its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 45.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,007 shares of the company’s stock after selling 13,350 shares during the quarter. Boston Partners owned about 0.09% of Turning Point Brands worth $962,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new position in shares of Turning Point Brands during the fourth quarter worth approximately $73,000. Levin Capital Strategies L.P. bought a new stake in Turning Point Brands in the 4th quarter valued at $212,000. Entropy Technologies LP acquired a new stake in Turning Point Brands in the 4th quarter worth $234,000. AlphaQuest LLC increased its holdings in shares of Turning Point Brands by 56.4% during the 4th quarter. AlphaQuest LLC now owns 4,131 shares of the company’s stock worth $248,000 after purchasing an additional 1,490 shares during the period. Finally, Legato Capital Management LLC bought a new stake in shares of Turning Point Brands in the fourth quarter valued at about $278,000. Institutional investors own 96.12% of the company’s stock.

Analyst Ratings Changes

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

Turning Point Brands Stock Performance

Turning Point Brands stock opened at $57.69 on Friday. The firm has a market capitalization of $1.02 billion, a P/E ratio of 22.89 and a beta of 0.74. The stock has a fifty day moving average price of $62.87 and a two-hundred day moving average price of $55.32. 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 current ratio of 4.21 and a quick ratio of 1.78.

Turning Point Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.52%. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.07. Turning Point Brands’s dividend payout ratio (DPR) is 14.15%.

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.