CenterBook Partners LP Takes Position in Turning Point Brands, Inc. (NYSE:TPB)

CenterBook Partners LP acquired a new stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,243 shares of the company's stock, valued at approximately $435,000.

A number of other institutional investors have also recently made changes to their positions in TPB. Arrowstreet Capital Limited Partnership increased its holdings in Turning Point Brands by 36.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company's stock worth $19,145,000 after purchasing an additional 84,552 shares during the period. Invesco Ltd. raised its holdings in shares of Turning Point Brands by 205.8% in the 4th quarter. Invesco Ltd. now owns 97,261 shares of the company's stock valued at $5,845,000 after purchasing an additional 65,457 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Turning Point Brands by 40.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company's stock worth $12,243,000 after purchasing an additional 58,425 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Turning Point Brands by 84.5% during the third quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company's stock worth $5,311,000 after purchasing an additional 56,364 shares in the last quarter. Finally, 272 Capital LP acquired a new stake in Turning Point Brands in the third quarter valued at $1,488,000. Institutional investors and hedge funds own 96.12% of the company's stock.

Turning Point Brands Stock Performance

Shares of NYSE:TPB traded up $0.43 on Friday, reaching $57.72. The company's stock had a trading volume of 113,731 shares, compared to its average volume of 159,362. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. Turning Point Brands, Inc. has a 52-week low of $26.67 and a 52-week high of $72.54. The stock's 50-day moving average is $61.76 and its two-hundred day moving average is $57.61. The stock has a market capitalization of $1.03 billion, a P/E ratio of 22.90 and a beta of 0.70.

Turning Point Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 21st were issued a dividend of $0.075 per share. The ex-dividend date was Friday, March 21st. This is an increase from Turning Point Brands's previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a dividend yield of 0.52%. Turning Point Brands's dividend payout ratio (DPR) is currently 14.15%.

Analyst Ratings Changes

A number of research firms have recently commented on TPB. StockNews.com downgraded Turning Point Brands from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th. Roth Mkm restated a "buy" rating and set a $70.00 price objective on shares of Turning Point Brands in a research report on Friday, January 10th. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They issued a "buy" rating and a $80.00 target price on the stock. Finally, Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a research report on Thursday, March 6th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average 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.