King Luther Capital Management Corp Invests $1.37 Million in Turning Point Brands, Inc. (NYSE:TPB)

King Luther Capital Management Corp acquired a new stake in Turning Point Brands, Inc. (NYSE:TPB) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 22,868 shares of the company’s stock, valued at approximately $1,374,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moran Wealth Management LLC lifted its stake in Turning Point Brands by 16.4% in the fourth quarter. Moran Wealth Management LLC now owns 6,368 shares of the company’s stock valued at $383,000 after buying an additional 897 shares during the period. AlphaQuest LLC increased its stake in shares of Turning Point Brands by 56.4% in the 4th quarter. AlphaQuest LLC now owns 4,131 shares of the company’s stock valued at $248,000 after acquiring an additional 1,490 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Turning Point Brands by 40.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company’s stock valued at $12,243,000 after acquiring an additional 58,425 shares during the period. Levin Capital Strategies L.P. acquired a new stake in shares of Turning Point Brands in the 4th quarter valued at approximately $212,000. Finally, Access Investment Management LLC boosted its stake in Turning Point Brands by 0.4% during the 4th quarter. Access Investment Management LLC now owns 122,125 shares of the company’s stock worth $7,340,000 after acquiring an additional 540 shares during the last quarter. 96.12% of the stock is owned by institutional investors.

Turning Point Brands Stock Performance

Shares of Turning Point Brands stock opened at $56.82 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 22.55 and a beta of 0.75. The stock’s 50-day moving average is $62.75 and its 200-day moving average is $54.45. Turning Point Brands, Inc. has a one year low of $26.45 and a one year high of $72.54.

Turning Point Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be paid a $0.075 dividend. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, March 21st. This represents a $0.30 annualized dividend and a yield of 0.53%. Turning Point Brands’s payout ratio is presently 14.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TPB shares. Craig Hallum increased their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Oppenheimer initiated coverage on Turning Point Brands in a research note on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective on the stock. Alliance Global Partners started coverage on Turning Point Brands in a research note on Monday, March 3rd. They issued a “buy” rating and a $80.00 target price for the company. 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. Finally, Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a report on Thursday, March 6th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Turning Point Brands presently has an average rating of “Buy” and a consensus price target of $73.33.

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.