JPMorgan Chase & Co. Boosts Position in Turning Point Brands, Inc. (NYSE:TPB)

JPMorgan Chase & Co. lifted its stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 142,251 shares of the company's stock after buying an additional 19,172 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.80% of Turning Point Brands worth $8,549,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. USA Financial Formulas purchased a new position in shares of Turning Point Brands in the 4th quarter valued at about $73,000. Levin Capital Strategies L.P. acquired a new stake in Turning Point Brands during the fourth quarter worth approximately $212,000. Entropy Technologies LP purchased a new stake in shares of Turning Point Brands during the 4th quarter worth approximately $234,000. AlphaQuest LLC lifted its position in shares of 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 buying an additional 1,490 shares during the last quarter. Finally, Semanteon Capital Management LP acquired a new position in shares of Turning Point Brands in the 4th quarter valued at $271,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Brands Stock Performance

Shares of NYSE:TPB traded up $0.43 during midday trading on Friday, hitting $57.72. The stock had a trading volume of 113,731 shares, compared to its average volume of 160,038. The company has a market capitalization of $1.03 billion, a PE ratio of 22.90 and a beta of 0.70. Turning Point Brands, Inc. has a 1 year low of $27.48 and a 1 year high of $72.54. The stock has a 50 day moving average price of $61.56 and a two-hundred day moving average price of $57.93. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

Turning Point Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were given a dividend of $0.075 per share. This is a boost from Turning Point Brands's previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.30 annualized dividend and a yield of 0.52%. Turning Point Brands's payout ratio is presently 14.15%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TPB. Roth Mkm reissued a "buy" rating and issued a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a report on Thursday, March 6th. 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. Finally, StockNews.com upgraded shares of Turning Point Brands from a "hold" rating to a "buy" rating in a research note on Friday. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $73.33.

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.