LSV Asset Management Trims Position in Turning Point Brands, Inc. (NYSE:TPB)

LSV Asset Management decreased its position in Turning Point Brands, Inc. (NYSE:TPB) by 60.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,900 shares of the company’s stock after selling 69,400 shares during the quarter. LSV Asset Management owned approximately 0.26% of Turning Point Brands worth $2,759,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Entropy Technologies LP purchased a new position in Turning Point Brands during the fourth quarter valued at $234,000. 272 Capital LP bought a new position in shares of Turning Point Brands during the 3rd quarter valued at approximately $1,488,000. Legato Capital Management LLC purchased a new stake in Turning Point Brands in the 4th quarter worth approximately $278,000. Principal Financial Group Inc. raised its stake in Turning Point Brands by 7.1% during the 4th quarter. Principal Financial Group Inc. now owns 7,247 shares of the company’s stock worth $436,000 after acquiring an additional 482 shares during the period. Finally, Barclays PLC lifted its holdings in Turning Point Brands by 298.6% during the third quarter. Barclays PLC now owns 29,274 shares of the company’s stock valued at $1,262,000 after purchasing an additional 21,930 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on TPB shares. 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. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a report on Thursday, March 6th. Alliance Global Partners assumed coverage on Turning Point Brands in a research report on Monday, March 3rd. They set a “buy” rating and a $80.00 target price for the company. Finally, StockNews.com lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. One investment 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. Based on data from MarketBeat.com, Turning Point Brands presently has an average rating of “Buy” and a consensus price target of $73.33.

Turning Point Brands Price Performance

Turning Point Brands stock opened at $56.70 on Tuesday. Turning Point Brands, Inc. has a 52-week low of $26.45 and a 52-week high of $72.54. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 22.50 and a beta of 0.70. The firm’s fifty day moving average is $62.37 and its 200 day moving average is $57.51. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33.

Turning Point Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were paid a dividend of $0.075 per share. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a yield of 0.53%. The ex-dividend date was Friday, March 21st. Turning Point Brands’s payout ratio is presently 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.