AdvisorShares Investments LLC Reduces Holdings in Turning Point Brands, Inc. (NYSE:TPB)

AdvisorShares Investments LLC trimmed its stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 58.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,669 shares of the company's stock after selling 7,900 shares during the period. AdvisorShares Investments LLC's holdings in Turning Point Brands were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. USA Financial Formulas acquired a new stake in Turning Point Brands in the fourth quarter valued at approximately $73,000. Tower Research Capital LLC TRC raised its position in shares of Turning Point Brands by 29.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock worth $142,000 after purchasing an additional 532 shares during the last quarter. Levin Capital Strategies L.P. acquired a new stake in Turning Point Brands in the 4th quarter worth about $212,000. Entropy Technologies LP acquired a new stake in shares of Turning Point Brands in the fourth quarter worth approximately $234,000. Finally, AlphaQuest LLC boosted its stake in Turning Point Brands by 56.4% during the 4th quarter. AlphaQuest LLC now owns 4,131 shares of the company's stock worth $248,000 after purchasing an additional 1,490 shares during the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Turning Point Brands Price Performance

NYSE:TPB traded up $1.43 during trading hours on Friday, hitting $63.53. The company's stock had a trading volume of 190,040 shares, compared to its average volume of 160,259. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The business's 50-day moving average is $59.67 and its two-hundred day moving average is $59.07. Turning Point Brands, Inc. has a 52-week low of $30.61 and a 52-week high of $72.54. The company has a market capitalization of $1.13 billion, a PE ratio of 25.21 and a beta of 0.69.

Turning Point Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 21st were given a $0.075 dividend. The ex-dividend date was Friday, March 21st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.47%. This is a boost from Turning Point Brands's previous quarterly dividend of $0.07. Turning Point Brands's dividend payout ratio (DPR) is currently 14.15%.

About Turning Point Brands

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.