Turning Point Brands, Inc. (NYSE:TPB) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 15.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 640,271 shares of the company’s stock after selling 116,313 shares during the period. Thrivent Financial for Lutherans owned approximately 3.62% of Turning Point Brands worth $38,481,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. USA Financial Formulas acquired a new stake in Turning Point Brands in the fourth quarter worth about $73,000. Levin Capital Strategies L.P. bought a new stake in shares of Turning Point Brands during the 4th quarter worth about $212,000. Entropy Technologies LP acquired a new stake in shares of Turning Point Brands in the 4th quarter worth approximately $234,000. Moran Wealth Management LLC bought a new position in shares of Turning Point Brands in the third quarter valued at approximately $236,000. Finally, AlphaQuest LLC increased its stake in shares of Turning Point Brands by 56.4% during the fourth quarter. AlphaQuest LLC now owns 4,131 shares of the company’s stock valued at $248,000 after acquiring an additional 1,490 shares during the period. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Price Performance

NYSE TPB opened at $57.85 on Thursday. 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 1 year low of $26.45 and a 1 year high of $72.54. The company has a market cap of $1.03 billion, a PE ratio of 22.96 and a beta of 0.74. The stock’s 50-day moving average price is $62.78 and its two-hundred day moving average price is $55.07.

Turning Point Brands Increases Dividend

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

Analyst Ratings Changes

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