Turning Point Brands, Inc. (NYSE:TPB) Position Reduced by Marshall Wace LLP

Marshall Wace LLP lessened its position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 36.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,714 shares of the company's stock after selling 45,136 shares during the period. Marshall Wace LLP owned approximately 0.44% of Turning Point Brands worth $4,731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPB. Entropy Technologies LP bought a new stake in shares of Turning Point Brands during the fourth quarter valued at approximately $234,000. 272 Capital LP bought a new stake in Turning Point Brands during the 3rd quarter valued at $1,488,000. Legato Capital Management LLC acquired a new position in Turning Point Brands during the 4th quarter worth $278,000. Principal Financial Group Inc. grew its stake in shares of Turning Point Brands by 7.1% in the fourth quarter. Principal Financial Group Inc. now owns 7,247 shares of the company's stock worth $436,000 after purchasing an additional 482 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Turning Point Brands by 298.6% in the third quarter. Barclays PLC now owns 29,274 shares of the company's stock worth $1,262,000 after purchasing an additional 21,930 shares in the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a report on Thursday, March 6th. StockNews.com raised shares of Turning Point Brands from a "hold" rating to a "buy" rating in a research note on Friday, April 18th. Roth Mkm reiterated a "buy" rating and issued a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Finally, Alliance Global Partners initiated coverage on 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 assigned a strong buy rating to the company. According to data from MarketBeat, Turning Point Brands presently has an average rating of "Buy" and a consensus target price of $73.33.

Turning Point Brands Price Performance

NYSE:TPB traded up $0.75 during trading hours on Wednesday, reaching $61.42. 143,294 shares of the company's stock were exchanged, compared to its average volume of 161,583. The company has a market capitalization of $1.09 billion, a P/E ratio of 24.37 and a beta of 0.70. Turning Point Brands, Inc. has a 12 month low of $28.85 and a 12 month high of $72.54. The business's 50-day simple moving average is $59.89 and its two-hundred day simple moving average is $58.68. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33.

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 paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 21st. This is a positive change from Turning Point Brands's previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a dividend yield of 0.49%. 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.