Canada Pension Plan Investment Board Acquires Shares of 16,800 Turning Point Brands, Inc. (NYSE:TPB)

Canada Pension Plan Investment Board acquired a new position in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,800 shares of the company's stock, valued at approximately $1,010,000. Canada Pension Plan Investment Board owned approximately 0.09% of Turning Point Brands at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. EAM Investors LLC increased its position in Turning Point Brands by 205.8% during the 4th quarter. EAM Investors LLC now owns 83,847 shares of the company's stock valued at $5,039,000 after purchasing an additional 56,429 shares during the period. PEAK6 LLC acquired a new stake in Turning Point Brands in the 4th quarter valued at $691,000. Jump Financial LLC increased its position in shares of Turning Point Brands by 60.0% during the fourth quarter. Jump Financial LLC now owns 18,500 shares of the company's stock worth $1,112,000 after acquiring an additional 6,939 shares in the last quarter. Portolan Capital Management LLC bought a new stake in Turning Point Brands during the 4th quarter worth approximately $3,817,000. Finally, XTX Topco Ltd raised its position in Turning Point Brands by 90.5% in the 4th quarter. XTX Topco Ltd now owns 19,163 shares of the company's stock valued at $1,152,000 after buying an additional 9,104 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Trading Up 1.2 %

Shares of Turning Point Brands stock traded up $0.75 on Wednesday, hitting $61.42. The stock had a trading volume of 143,294 shares, compared to its average volume of 161,583. 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 stock's 50-day simple moving average is $59.89 and its two-hundred day simple moving average is $58.68. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 24.37 and a beta of 0.70. Turning Point Brands, Inc. has a one year low of $28.85 and a one year high of $72.54.

Turning Point Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 21st were given a $0.075 dividend. This is a positive change from Turning Point Brands's previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, March 21st. Turning Point Brands's dividend payout ratio (DPR) is currently 14.15%.

Analyst Ratings Changes

Several research firms have commented on TPB. Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a research report on Thursday, March 6th. Roth Mkm restated a "buy" rating and set a $70.00 price target on shares of Turning Point Brands in a research note on Friday, January 10th. StockNews.com raised Turning Point Brands from a "hold" rating to a "buy" rating in a report on Friday, April 18th. Finally, Alliance Global Partners started coverage on Turning Point Brands in a research note on Monday, March 3rd. They set a "buy" rating and a $80.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $73.33.

About Turning Point Brands

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.