Apis Capital Advisors LLC Boosts Stock Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Apis Capital Advisors LLC grew its stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 19.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,000 shares of the company's stock after purchasing an additional 9,000 shares during the period. Turning Point Brands makes up approximately 2.2% of Apis Capital Advisors LLC's portfolio, making the stock its 15th biggest holding. Apis Capital Advisors LLC owned about 0.32% of Turning Point Brands worth $3,366,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TPB. AQR Capital Management LLC boosted its holdings in Turning Point Brands by 102.8% in the 4th quarter. AQR Capital Management LLC now owns 106,478 shares of the company's stock valued at $6,399,000 after purchasing an additional 53,979 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Turning Point Brands by 7.9% in the fourth quarter. Northern Trust Corp now owns 160,386 shares of the company's stock valued at $9,639,000 after buying an additional 11,808 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in shares of Turning Point Brands by 66.8% in the fourth quarter. Tudor Investment Corp ET AL now owns 61,971 shares of the company's stock valued at $3,724,000 after buying an additional 24,815 shares in the last quarter. Northern Right Capital Management L.P. grew its holdings in Turning Point Brands by 356.6% during the fourth quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company's stock worth $8,075,000 after acquiring an additional 104,931 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Turning Point Brands by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 61,727 shares of the company's stock worth $3,711,000 after acquiring an additional 1,769 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TPB. StockNews.com raised shares of Turning Point Brands from a "hold" rating to a "buy" rating in a research note on Friday, April 18th. Alliance Global Partners assumed coverage on shares of Turning Point Brands in a report on Monday, March 3rd. They issued a "buy" rating and a $80.00 target price for the company. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a research note on Thursday, March 6th. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Turning Point Brands in a research note on Friday, January 10th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $73.33.

Turning Point Brands Price Performance

Shares of NYSE TPB traded up $1.52 during trading on Monday, reaching $65.20. The company had a trading volume of 181,407 shares, compared to its average volume of 160,343. 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 twelve month low of $30.61 and a twelve month high of $72.54. The stock has a 50-day moving average price of $59.59 and a two-hundred day moving average price of $59.33. The stock has a market capitalization of $1.16 billion, a PE ratio of 25.87 and a beta of 0.69.

Turning Point Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.46%. This is a positive change from Turning Point Brands's previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, March 21st. Turning Point Brands's dividend 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.