Seizert Capital Partners LLC Decreases Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Seizert Capital Partners LLC decreased its position in shares of Turning Point Brands, Inc. (NYSE:TPB) by 2.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 9,274 shares of the company’s stock after selling 278 shares during the period. Seizert Capital Partners LLC’s holdings in Turning Point Brands were worth $557,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Aigen Investment Management LP acquired a new stake in shares of Turning Point Brands during the 3rd quarter worth $221,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Turning Point Brands during the 3rd quarter worth $326,000. Moran Wealth Management LLC purchased a new stake in Turning Point Brands during the 3rd quarter worth $236,000. Charles Schwab Investment Management Inc. boosted its position in Turning Point Brands by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 145,281 shares of the company’s stock worth $6,269,000 after purchasing an additional 2,442 shares during the period. Finally, Pekin Hardy Strauss Inc. purchased a new stake in Turning Point Brands during the 3rd quarter worth $1,260,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Benchmark upped their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Alliance Global Partners assumed coverage on shares of Turning Point Brands in a research report on Monday. They issued a “buy” rating and a $80.00 price objective for the company. Finally, Oppenheimer assumed coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price objective for the company. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $71.00.

Turning Point Brands Stock Performance

Shares of Turning Point Brands stock opened at $67.02 on Thursday. The firm has a market cap of $1.19 billion, a PE ratio of 26.59 and a beta of 0.74. The firm’s 50-day simple moving average is $62.82 and its 200-day simple moving average is $53.72. 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 1 year low of $26.14 and a 1 year high of $72.54.

Turning Point Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Friday, March 21st. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.07. Turning Point Brands’s dividend payout ratio is 11.90%.

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.