Peak6 LLC Purchases New Stake in Turning Point Brands, Inc. (NYSE:TPB)

PEAK6 LLC acquired a new position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 11,495 shares of the company's stock, valued at approximately $691,000. PEAK6 LLC owned about 0.06% of Turning Point Brands at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its position in shares of Turning Point Brands by 36.1% in 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 last quarter. Invesco Ltd. boosted its holdings in Turning Point Brands by 205.8% during the fourth quarter. Invesco Ltd. now owns 97,261 shares of the company's stock worth $5,845,000 after buying an additional 65,457 shares during the last quarter. Portolan Capital Management LLC acquired a new position in shares of Turning Point Brands during the 4th quarter worth about $3,817,000. Charles Schwab Investment Management Inc. increased its stake in shares of Turning Point Brands by 40.2% in the 4th 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 during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Turning Point Brands by 84.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company's stock valued at $5,311,000 after acquiring an additional 56,364 shares during the period. Institutional investors and hedge funds own 96.12% of the company's stock.

Wall Street Analysts Forecast Growth

TPB has been the topic of several analyst reports. StockNews.com upgraded shares of Turning Point Brands from a "hold" rating to a "buy" rating in a report on Friday, April 18th. Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a research note on Thursday, March 6th. Roth Mkm reissued a "buy" rating and issued a $70.00 target price on shares of Turning Point Brands in a research note on Friday, January 10th. Finally, Alliance Global Partners initiated coverage on shares of Turning Point Brands in a report on Monday, March 3rd. They set a "buy" rating and a $80.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $73.33.

Turning Point Brands Stock Up 0.3 %

Turning Point Brands stock traded up $0.18 during mid-day trading on Friday, reaching $59.36. The company's stock had a trading volume of 58,420 shares, compared to its average volume of 161,077. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 23.55 and a beta of 0.70. The business's 50 day simple moving average is $60.39 and its 200 day simple moving average is $58.29. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. Turning Point Brands, Inc. has a 12 month low of $27.48 and a 12 month high of $72.54.

Turning Point Brands Increases Dividend

The business 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 represents a $0.30 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, March 21st. This is an increase from Turning Point Brands's previous quarterly dividend of $0.07. Turning Point Brands's dividend payout ratio is presently 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.