Semanteon Capital Management LP Takes Position in Turning Point Brands, Inc. (NYSE:TPB)

Semanteon Capital Management LP purchased a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,513 shares of the company’s stock, valued at approximately $271,000.

Several other large investors have also recently modified their holdings of TPB. USA Financial Formulas bought a new position in shares of Turning Point Brands during the fourth quarter valued at $73,000. Levin Capital Strategies L.P. bought a new position in shares of Turning Point Brands during the fourth quarter valued at $212,000. Entropy Technologies LP bought a new position in shares of Turning Point Brands during the fourth quarter valued at $234,000. Moran Wealth Management LLC bought a new position in Turning Point Brands during the third quarter worth $236,000. Finally, AlphaQuest LLC raised its stake in Turning Point Brands by 56.4% during the fourth quarter. AlphaQuest LLC now owns 4,131 shares of the company’s stock worth $248,000 after buying an additional 1,490 shares during the last quarter. Institutional investors own 96.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TPB shares. Roth Mkm reissued a “buy” rating and set a $70.00 target price on shares of Turning Point Brands in a research note on Friday, January 10th. Alliance Global Partners started coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They set a “buy” rating and a $80.00 target price for the company. Craig Hallum lifted their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. StockNews.com downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Finally, Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a research note on Thursday, March 6th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $73.33.

Turning Point Brands Trading Down 0.2 %

TPB opened at $57.69 on Friday. Turning Point Brands, Inc. has a 1-year low of $26.45 and a 1-year high of $72.54. 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 company has a market cap of $1.02 billion, a P/E ratio of 22.89 and a beta of 0.74. The company has a fifty day moving average price of $62.87 and a two-hundred day moving average price of $55.22.

Turning Point Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be paid a $0.075 dividend. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a yield of 0.52%. The ex-dividend date is Friday, March 21st. Turning Point Brands’s payout ratio is 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.