Martingale Asset Management L P Buys 1,522 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Martingale Asset Management L P grew its stake in Turning Point Brands, Inc. (NYSE:TPB) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,208 shares of the company’s stock after purchasing an additional 1,522 shares during the quarter. Martingale Asset Management L P owned approximately 0.15% of Turning Point Brands worth $1,575,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TPB. USA Financial Formulas acquired a new position in Turning Point Brands in the 4th quarter valued at about $73,000. Levin Capital Strategies L.P. bought a new position in shares of Turning Point Brands during the fourth quarter worth approximately $212,000. Entropy Technologies LP acquired a new stake in Turning Point Brands during the 4th quarter worth approximately $234,000. AlphaQuest LLC lifted its holdings in 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 last quarter. Finally, Semanteon Capital Management LP bought a new stake in Turning Point Brands in the 4th quarter valued at $271,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Wall Street Analysts Forecast Growth

TPB has been the subject of a number of research reports. Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a report on Thursday, March 6th. Roth Mkm reissued 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 shares of Turning Point Brands in a report on Monday, March 3rd. They set a “buy” rating and a $80.00 target price on the stock. Finally, StockNews.com downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Turning Point Brands presently has an average rating of “Buy” and a consensus price target of $73.33.

Turning Point Brands Trading Down 1.3 %

Shares of TPB opened at $55.78 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. Turning Point Brands, Inc. has a 52-week low of $26.45 and a 52-week high of $72.54. The firm has a market cap of $990.69 million, a price-to-earnings ratio of 22.13 and a beta of 0.70. The business’s fifty day moving average is $62.47 and its 200-day moving average is $57.30.

Turning Point Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 21st were issued a $0.075 dividend. The ex-dividend date was Friday, March 21st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.54%. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.07. Turning Point Brands’s dividend payout ratio is 14.15%.

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.