Invesco Ltd. Has $5.85 Million Position in Turning Point Brands, Inc. (NYSE:TPB)

Invesco Ltd. raised its position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 205.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,261 shares of the company's stock after purchasing an additional 65,457 shares during the quarter. Invesco Ltd. owned approximately 0.55% of Turning Point Brands worth $5,845,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. USA Financial Formulas acquired a new position in Turning Point Brands during the fourth quarter worth $73,000. Levin Capital Strategies L.P. bought a new stake in shares of Turning Point Brands during the 4th quarter worth about $212,000. Entropy Technologies LP acquired a new position in shares of Turning Point Brands during the 4th quarter valued at about $234,000. AlphaQuest LLC raised its stake in shares of Turning Point Brands by 56.4% in the 4th quarter. AlphaQuest LLC now owns 4,131 shares of the company's stock valued at $248,000 after acquiring an additional 1,490 shares in the last quarter. Finally, Semanteon Capital Management LP acquired a new stake in Turning Point Brands in the 4th quarter worth approximately $271,000. 96.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Roth Mkm reiterated a "buy" rating and issued a $70.00 target price on shares of Turning Point Brands in a research note on Friday, January 10th. StockNews.com upgraded 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 Turning Point Brands in a research note on Monday, March 3rd. They set a "buy" rating and a $80.00 target price for the company. Finally, Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a research report on Thursday, March 6th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $73.33.

Turning Point Brands Trading Up 1.4 %

NYSE TPB traded up $0.84 on Thursday, reaching $62.22. The company had a trading volume of 13,441 shares, compared to its average volume of 161,058. Turning Point Brands, Inc. has a 52 week low of $28.85 and a 52 week high of $72.54. The stock's 50 day moving average is $59.89 and its 200-day moving average is $58.68. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 24.70 and a beta of 0.70.

Turning Point Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were issued a $0.075 dividend. 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 0.48%. The ex-dividend date of this dividend was Friday, March 21st. Turning Point Brands's dividend payout ratio 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.