M&T Bank Corp Sells 3,364 Shares of Turning Point Brands, Inc. (NYSE:TPB)

M&T Bank Corp trimmed its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 5.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 60,468 shares of the company’s stock after selling 3,364 shares during the period. M&T Bank Corp’s holdings in Turning Point Brands were worth $3,634,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Martingale Asset Management L P lifted its holdings in shares of Turning Point Brands by 1.4% during the 3rd quarter. Martingale Asset Management L P now owns 24,686 shares of the company’s stock worth $1,065,000 after acquiring an additional 329 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of 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. Access Investment Management LLC lifted its holdings in shares of Turning Point Brands by 0.4% during the 4th quarter. Access Investment Management LLC now owns 122,125 shares of the company’s stock worth $7,340,000 after acquiring an additional 540 shares during the period. USA Financial Formulas bought a new position in shares of Turning Point Brands during the 4th quarter worth about $73,000. Finally, Stifel Financial Corp lifted its holdings in shares of Turning Point Brands by 6.8% during the 3rd quarter. Stifel Financial Corp now owns 25,646 shares of the company’s stock worth $1,107,000 after acquiring an additional 1,634 shares during the period. 96.12% of the stock is owned by institutional investors.

Turning Point Brands Trading Down 0.0 %

TPB opened at $61.55 on Friday. 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 stock has a market capitalization of $1.09 billion, a PE ratio of 24.43 and a beta of 0.74. Turning Point Brands, Inc. has a 1-year low of $26.35 and a 1-year high of $72.54. The firm has a 50-day moving average price of $62.90 and a two-hundred day moving average price of $54.02.

Turning Point Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Friday, March 21st. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.07. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.90%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TPB shares. Roth Mkm reissued a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a report on Friday, January 10th. Alliance Global Partners started coverage on shares of Turning Point Brands in a report on Monday, March 3rd. They set a “buy” rating and a $80.00 price target for the company. Oppenheimer started coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target for the company. Craig Hallum lifted their price target on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, StockNews.com raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Turning Point Brands currently has a consensus rating of “Buy” and a consensus target price of $71.00.

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.