Foundry Partners LLC Lowers Stock Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Foundry Partners LLC lessened its stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 47.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,870 shares of the company's stock after selling 91,383 shares during the period. Foundry Partners LLC owned about 0.56% of Turning Point Brands worth $6,002,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TPB. Charles Schwab Investment Management Inc. boosted its position in Turning Point Brands by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 145,281 shares of the company's stock worth $6,269,000 after purchasing an additional 2,442 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Turning Point Brands by 22.8% during the third quarter. BNP Paribas Financial Markets now owns 38,571 shares of the company's stock worth $1,664,000 after purchasing an additional 7,170 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Turning Point Brands during the 3rd quarter worth approximately $435,000. Stifel Financial Corp lifted its position in shares of Turning Point Brands by 6.8% in the third quarter. Stifel Financial Corp now owns 25,646 shares of the company's stock valued at $1,107,000 after acquiring an additional 1,634 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Turning Point Brands by 9.9% in the third quarter. Jane Street Group LLC now owns 29,228 shares of the company's stock worth $1,261,000 after acquiring an additional 2,637 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company's stock.

Turning Point Brands Stock Performance

Shares of Turning Point Brands stock traded down $0.54 on Wednesday, hitting $54.67. The stock had a trading volume of 24,178 shares, compared to its average volume of 156,660. The stock has a market cap of $970.91 million, a price-to-earnings ratio of 21.66 and a beta of 0.70. Turning Point Brands, Inc. has a 52-week low of $26.45 and a 52-week high of $72.54. The company's 50 day moving average price is $62.93 and its 200 day moving average price is $56.99. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.55%. This is a boost from Turning Point Brands's previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, March 21st. Turning Point Brands's payout ratio is presently 14.15%.

Analyst Ratings Changes

Several research firms recently commented on TPB. StockNews.com cut Turning Point Brands from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th. Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a report on Thursday, March 6th. Roth Mkm reiterated a "buy" rating and issued a $70.00 target price on shares of Turning Point Brands in a report on Friday, January 10th. Finally, Alliance Global Partners began coverage on Turning Point Brands in a research note on Monday, March 3rd. They issued a "buy" rating and a $80.00 price objective for the company. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $73.33.

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.