Renaissance Technologies LLC Has $17.16 Million Position in Turning Point Brands, Inc. (NYSE:TPB)

Renaissance Technologies LLC lessened its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 7.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 285,452 shares of the company’s stock after selling 21,845 shares during the period. Renaissance Technologies LLC owned 1.61% of Turning Point Brands worth $17,156,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Entropy Technologies LP bought a new stake in Turning Point Brands during the 4th quarter worth about $234,000. 272 Capital LP acquired a new position in shares of Turning Point Brands during the third quarter worth approximately $1,488,000. Legato Capital Management LLC bought a new stake in shares of Turning Point Brands during the fourth quarter valued at approximately $278,000. Principal Financial Group Inc. grew its stake in shares of Turning Point Brands by 7.1% during the fourth quarter. Principal Financial Group Inc. now owns 7,247 shares of the company’s stock valued at $436,000 after purchasing an additional 482 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Turning Point Brands by 298.6% in 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 and hedge funds.

Wall Street Analysts Forecast Growth

TPB has been the topic of a number of recent research reports. 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 report on Thursday, March 6th. Roth Mkm reissued a “buy” rating and set a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Finally, Alliance Global Partners started 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. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $73.33.

Turning Point Brands Trading Up 1.5 %

NYSE:TPB opened at $56.70 on Tuesday. 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 firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 22.50 and a beta of 0.70. The business’s 50-day moving average price is $62.37 and its two-hundred day moving average price is $57.51.

Turning Point Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 21st were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.53%. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, March 21st. Turning Point Brands’s dividend payout ratio (DPR) is currently 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.