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

Portolan Capital Management LLC acquired a new stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 63,511 shares of the company's stock, valued at approximately $3,817,000. Portolan Capital Management LLC owned about 0.36% of Turning Point Brands at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. USA Financial Formulas acquired a new position in shares of Turning Point Brands during the 4th quarter worth $73,000. Levin Capital Strategies L.P. acquired a new position in Turning Point Brands during the 4th quarter worth approximately $212,000. Entropy Technologies LP bought a new position in Turning Point Brands in the 4th quarter valued at approximately $234,000. AlphaQuest LLC boosted its position in Turning Point Brands by 56.4% in the fourth quarter. AlphaQuest LLC now owns 4,131 shares of the company's stock valued at $248,000 after buying an additional 1,490 shares in the last quarter. Finally, Semanteon Capital Management LP bought a new stake in shares of Turning Point Brands during the fourth quarter worth $271,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Trading Up 0.8 %

TPB stock traded up $0.43 during trading on Friday, hitting $57.72. The company had a trading volume of 113,731 shares, compared to its average volume of 159,706. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. Turning Point Brands, Inc. has a one year low of $26.87 and a one year high of $72.54. The business has a 50-day moving average of $61.56 and a 200-day moving average of $57.71. The stock has a market cap of $1.03 billion, a PE ratio of 22.90 and a beta of 0.70.

Turning Point Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 21st were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was 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 (DPR) is currently 14.15%.

Analyst Ratings Changes

Several research firms recently weighed in on TPB. Alliance Global Partners began coverage on Turning Point Brands in a report on Monday, March 3rd. They set a "buy" rating and a $80.00 price objective on the stock. Roth Mkm reissued 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 research note on Friday. Finally, Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a research report on Thursday, March 6th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Turning Point Brands presently has a consensus rating of "Buy" and an average price target 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.