Dimensional Fund Advisors LP Lowers Stake in Turning Point Brands, Inc. (NYSE:TPB)

Dimensional Fund Advisors LP decreased its stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 445,933 shares of the company's stock after selling 5,772 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.52% of Turning Point Brands worth $26,801,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TPB. USA Financial Formulas purchased a new stake in Turning Point Brands in the 4th quarter worth approximately $73,000. Levin Capital Strategies L.P. purchased a new stake in shares of Turning Point Brands in the fourth quarter worth $212,000. Entropy Technologies LP purchased a new stake in shares of Turning Point Brands in the fourth quarter worth $234,000. AlphaQuest LLC raised its position in shares of Turning Point Brands by 56.4% during the 4th quarter. AlphaQuest LLC now owns 4,131 shares of the company's stock valued at $248,000 after purchasing an additional 1,490 shares during the period. Finally, Semanteon Capital Management LP purchased a new position in shares of Turning Point Brands during the 4th quarter valued at $271,000. Institutional investors own 96.12% of the company's stock.

Insider Activity

In other news, Director Gregory H.A. Baxter sold 1,500 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $73.64, for a total value of $110,460.00. Following the completion of the sale, the director now owns 40,419 shares in the company, valued at approximately $2,976,455.16. This trade represents a 3.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian Wigginton sold 3,500 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $75.75, for a total transaction of $265,125.00. Following the transaction, the chief accounting officer now owns 10,171 shares in the company, valued at $770,453.25. The trade was a 25.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.60% of the company's stock.

Analysts Set New Price Targets

TPB has been the topic of a number of recent analyst reports. Roth Mkm reissued a "buy" rating and set a $70.00 price target on shares of Turning Point Brands in a report on Friday, January 10th. StockNews.com downgraded Turning Point Brands from a "buy" rating to a "hold" rating in a research note on Tuesday. Oppenheimer upped their price target on Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday. Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a research report on Thursday, March 6th. Finally, Alliance Global Partners initiated coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They set a "buy" rating and a $80.00 target price for the company. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $76.67.

Turning Point Brands Price Performance

Shares of TPB stock traded down $0.55 on Friday, reaching $75.11. The company's stock had a trading volume of 333,849 shares, compared to its average volume of 165,576. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 29.81 and a beta of 0.69. The stock's fifty day simple moving average is $59.99 and its 200-day simple moving average is $59.95. 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 1 year low of $30.61 and a 1 year high of $81.05.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.16. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The firm had revenue of $106.44 million for the quarter, compared to the consensus estimate of $95.75 million. During the same period in the previous year, the firm posted $0.63 EPS. The business's quarterly revenue was up 28.2% on a year-over-year basis. Analysts forecast that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 20th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, June 20th. Turning Point Brands's dividend payout ratio (DPR) is 14.15%.

Turning Point Brands Company 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.