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:TPBFree Report) 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.

Read Our Latest Research Report on TPB

Turning Point Brands Profile

(Free Report)

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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Institutional Ownership by Quarter for Turning Point Brands (NYSE:TPB)

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