Turning Point Brands, Inc. (NYSE:TPB) Holdings Cut by Algert Global LLC

Algert Global LLC cut its stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 27.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,914 shares of the company's stock after selling 32,163 shares during the quarter. Algert Global LLC owned approximately 0.47% of Turning Point Brands worth $4,983,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Apis Capital Advisors LLC increased its position in Turning Point Brands by 19.1% in the fourth quarter. Apis Capital Advisors LLC now owns 56,000 shares of the company's stock worth $3,366,000 after buying an additional 9,000 shares during the period. AQR Capital Management LLC increased its holdings in shares of Turning Point Brands by 102.8% in the 4th quarter. AQR Capital Management LLC now owns 106,478 shares of the company's stock worth $6,399,000 after acquiring an additional 53,979 shares during the period. Northern Trust Corp boosted its stake in Turning Point Brands by 7.9% during the 4th quarter. Northern Trust Corp now owns 160,386 shares of the company's stock valued at $9,639,000 after purchasing an additional 11,808 shares during the period. Tudor Investment Corp ET AL boosted its stake in Turning Point Brands by 66.8% during the 4th quarter. Tudor Investment Corp ET AL now owns 61,971 shares of the company's stock valued at $3,724,000 after purchasing an additional 24,815 shares during the period. Finally, Northern Right Capital Management L.P. grew its position in Turning Point Brands by 356.6% in the 4th quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company's stock worth $8,075,000 after purchasing an additional 104,931 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com upgraded Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Friday, April 18th. 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 target for the company. Roth Mkm restated a "buy" rating and set a $70.00 price objective on shares of Turning Point Brands in a research note on Friday, January 10th. Finally, Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a report on Thursday, March 6th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $73.33.

Turning Point Brands Stock Up 2.4 %

Shares of TPB stock opened at $65.20 on Tuesday. Turning Point Brands, Inc. has a 1 year low of $30.61 and a 1 year high of $72.54. 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 fifty day moving average is $59.59 and its 200-day moving average is $59.33. The stock has a market cap of $1.16 billion, a PE ratio of 25.87 and a beta of 0.69.

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 given a $0.075 dividend. The ex-dividend date was Friday, March 21st. This is a boost from Turning Point Brands's previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a yield of 0.46%. Turning Point Brands's payout ratio is 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.

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