Boston Partners Has $962,000 Position in Turning Point Brands, Inc. (NYSE:TPB)

Boston Partners cut its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 45.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,007 shares of the company’s stock after selling 13,350 shares during the quarter. Boston Partners’ holdings in Turning Point Brands were worth $962,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Corsair Capital Management L.P. grew its holdings in Turning Point Brands by 49.0% during the 3rd quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company’s stock worth $1,312,000 after acquiring an additional 10,000 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Turning Point Brands during the fourth quarter valued at approximately $234,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Turning Point Brands in the third quarter valued at approximately $1,260,000. 272 Capital LP bought a new position in Turning Point Brands in the 3rd quarter worth approximately $1,488,000. Finally, Legato Capital Management LLC acquired a new position in Turning Point Brands during the 4th quarter worth $278,000. 96.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a research 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. Craig Hallum raised their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. 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 price target 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 analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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 $57.69 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 firm has a market capitalization of $1.02 billion, a P/E ratio of 22.89 and a beta of 0.74. The business has a 50-day moving average of $62.87 and a 200-day moving average of $55.32. Turning Point Brands, Inc. has a 1 year low of $26.45 and a 1 year high of $72.54.

Turning Point Brands Increases Dividend

The company also recently announced 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 represents a $0.30 annualized dividend and a yield of 0.52%. The ex-dividend date is Friday, March 21st. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. Turning Point Brands’s dividend payout ratio is presently 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.