Turning Point Brands, Inc. (NYSE:TPB) Shares Bought by Access Investment Management LLC

Access Investment Management LLC grew its stake in Turning Point Brands, Inc. (NYSE:TPB) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,125 shares of the company’s stock after purchasing an additional 540 shares during the quarter. Turning Point Brands makes up approximately 2.1% of Access Investment Management LLC’s holdings, making the stock its 16th biggest holding. Access Investment Management LLC’s holdings in Turning Point Brands were worth $7,340,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its stake in Turning Point Brands by 72,406.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 10,876 shares of the company’s stock valued at $469,000 after buying an additional 10,861 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Turning Point Brands in the 3rd quarter valued at approximately $221,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Turning Point Brands during the 3rd quarter valued at approximately $326,000. Moran Wealth Management LLC acquired a new stake in shares of Turning Point Brands during the 3rd quarter valued at approximately $236,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Turning Point Brands by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 145,281 shares of the company’s stock worth $6,269,000 after purchasing an additional 2,442 shares during the period. Institutional investors own 96.12% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on TPB. Roth Mkm restated a “buy” rating and issued a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Benchmark increased their price target on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. StockNews.com lowered Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Craig Hallum increased their target price on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Turning Point Brands has a consensus rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Price Performance

NYSE:TPB opened at $67.94 on Friday. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The business’s 50-day moving average price is $61.32 and its 200 day moving average price is $51.98. Turning Point Brands, Inc. has a 52-week low of $22.47 and a 52-week high of $70.99. The firm has a market cap of $1.20 billion, a P/E ratio of 26.96 and a beta of 0.65.

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.