Trexquant Investment LP Acquires 19,847 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Trexquant Investment LP increased its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 60.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 52,917 shares of the company’s stock after acquiring an additional 19,847 shares during the period. Trexquant Investment LP owned about 0.30% of Turning Point Brands worth $3,180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. First Sabrepoint Capital Management LP purchased a new stake in Turning Point Brands in the third quarter worth $7,517,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Turning Point Brands by 36.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company’s stock worth $19,145,000 after purchasing an additional 84,552 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Turning Point Brands by 40.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company’s stock worth $12,243,000 after buying an additional 58,425 shares during the period. JPMorgan Chase & Co. lifted its holdings in Turning Point Brands by 84.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock valued at $5,311,000 after buying an additional 56,364 shares in the last quarter. Finally, 272 Capital LP purchased a new stake in Turning Point Brands in the 3rd quarter valued at about $1,488,000. 96.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TPB shares. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They set a “buy” rating and a $80.00 target price on the stock. StockNews.com lowered 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 Turning Point Brands in a research report on Thursday, March 6th. Finally, 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. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $73.33.

Turning Point Brands Trading Down 5.9 %

TPB opened at $54.61 on Monday. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The firm has a market cap of $969.96 million, a price-to-earnings ratio of 21.67 and a beta of 0.70. Turning Point Brands, Inc. has a 12 month low of $26.45 and a 12 month high of $72.54. The stock has a fifty day moving average price of $63.23 and a 200-day moving average price of $56.81.

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. The ex-dividend date is Friday, March 21st. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a yield of 0.55%. Turning Point Brands’s payout ratio is currently 14.15%.

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.