ArrowMark Colorado Holdings LLC Sells 65,308 Shares of Turning Point Brands, Inc. (NYSE:TPB)

ArrowMark Colorado Holdings LLC decreased its position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 13.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 433,400 shares of the company's stock after selling 65,308 shares during the period. ArrowMark Colorado Holdings LLC owned 2.45% of Turning Point Brands worth $26,047,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. USA Financial Formulas purchased a new stake in shares of Turning Point Brands during the fourth quarter valued at approximately $73,000. Tower Research Capital LLC TRC grew its stake in Turning Point Brands by 29.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock valued at $142,000 after purchasing an additional 532 shares during the period. Levin Capital Strategies L.P. purchased a new stake in shares of Turning Point Brands during the 4th quarter valued at $212,000. Entropy Technologies LP purchased a new position in shares of Turning Point Brands in the 4th quarter worth about $234,000. Finally, AlphaQuest LLC grew its position in Turning Point Brands by 56.4% during 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 during the period. Institutional investors own 96.12% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TPB. StockNews.com raised shares of Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Friday, April 18th. Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a report on Thursday, March 6th. Roth Mkm restated a "buy" rating and issued a $70.00 target price on shares of Turning Point Brands in a research note on Friday, January 10th. 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 target for the company. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Turning Point Brands currently has an average rating of "Buy" and an average target price of $73.33.

Turning Point Brands Stock Performance

Shares of NYSE:TPB traded up $1.52 during trading on Monday, hitting $65.20. 181,407 shares of the company were exchanged, compared to its average volume of 160,343. Turning Point Brands, Inc. has a 52-week low of $30.61 and a 52-week high of $72.54. The stock has a 50 day moving average of $59.59 and a 200 day moving average of $59.33. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The company has a market cap of $1.16 billion, a PE ratio of 25.87 and a beta of 0.69.

Turning Point Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.30 annualized dividend and a yield of 0.46%. 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%.

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.