LSV Asset Management Lowers Stock Holdings in Turning Point Brands, Inc. (NYSE:TPB)

LSV Asset Management trimmed its position in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 60.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,900 shares of the company's stock after selling 69,400 shares during the quarter. LSV Asset Management owned 0.26% of Turning Point Brands worth $2,759,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Turning Point Brands by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,524,640 shares of the company's stock worth $91,631,000 after purchasing an additional 18,440 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Turning Point Brands by 3.9% during the third quarter. Geode Capital Management LLC now owns 405,613 shares of the company's stock worth $17,506,000 after buying an additional 15,344 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Turning Point Brands by 36.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company's stock worth $19,145,000 after buying an additional 84,552 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Turning Point Brands by 40.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company's stock valued at $12,243,000 after acquiring an additional 58,425 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in Turning Point Brands by 1.8% in the fourth quarter. Federated Hermes Inc. now owns 157,618 shares of the company's stock valued at $9,473,000 after acquiring an additional 2,802 shares in the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on TPB. Roth Mkm reissued a "buy" rating and issued a $70.00 price objective on shares of Turning Point Brands in a research report on Friday, January 10th. Alliance Global Partners assumed coverage on Turning Point Brands in a report on Monday, March 3rd. They issued a "buy" rating and a $80.00 target price on the stock. StockNews.com raised Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a report on Thursday, March 6th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Turning Point Brands has an average rating of "Buy" and a consensus price target of $73.33.

Turning Point Brands Stock Performance

Shares of TPB traded up $0.43 during midday trading on Friday, reaching $57.72. 113,731 shares of the stock were exchanged, compared to its average volume of 160,038. Turning Point Brands, Inc. has a twelve month low of $27.48 and a twelve month high of $72.54. 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 capitalization of $1.03 billion, a price-to-earnings ratio of 22.90 and a beta of 0.70. The business's 50-day moving average price is $61.56 and its 200 day moving average price is $57.93.

Turning Point Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders 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 0.52%. The ex-dividend date of this dividend was Friday, March 21st. Turning Point Brands's dividend payout ratio is presently 14.15%.

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.