Thrivent Financial for Lutherans Has $38.48 Million Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Thrivent Financial for Lutherans decreased its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 15.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 640,271 shares of the company’s stock after selling 116,313 shares during the period. Thrivent Financial for Lutherans’ holdings in Turning Point Brands were worth $38,481,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Corsair Capital Management L.P. increased its stake in Turning Point Brands by 49.0% in the 3rd quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company’s stock valued at $1,312,000 after buying an additional 10,000 shares during the period. Entropy Technologies LP purchased a new position in shares of Turning Point Brands during the 4th quarter valued at $234,000. Pekin Hardy Strauss Inc. acquired a new position in shares of Turning Point Brands in the third quarter worth $1,260,000. 272 Capital LP purchased a new stake in shares of Turning Point Brands during the third quarter worth $1,488,000. Finally, Legato Capital Management LLC acquired a new stake in Turning Point Brands during the fourth quarter valued at $278,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Turning Point Brands Stock Performance

NYSE:TPB opened at $57.85 on Thursday. The firm has a market capitalization of $1.03 billion, a PE ratio of 22.96 and a beta of 0.74. Turning Point Brands, Inc. has a 1 year low of $26.45 and a 1 year high of $72.54. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The firm’s fifty day simple moving average is $62.78 and its 200 day simple moving average is $55.07.

Turning Point Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be given a $0.075 dividend. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Friday, March 21st. Turning Point Brands’s dividend payout ratio (DPR) is currently 14.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TPB shares. StockNews.com downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Craig Hallum lifted their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Alliance Global Partners assumed coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They set a “buy” rating and a $80.00 price target on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a research note on Friday, January 10th. Finally, Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a research report on Thursday, March 6th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average 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.