Charles Schwab Investment Management Inc. Raises Stock Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Charles Schwab Investment Management Inc. increased its position in Turning Point Brands, Inc. (NYSE:TPB) by 40.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 203,706 shares of the company’s stock after buying an additional 58,425 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Turning Point Brands were worth $12,243,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. USA Financial Formulas purchased a new position in shares of Turning Point Brands in the fourth quarter worth $73,000. Levin Capital Strategies L.P. bought a new stake in Turning Point Brands in the fourth quarter valued at $212,000. Entropy Technologies LP bought a new stake in Turning Point Brands in the fourth quarter valued at $234,000. Moran Wealth Management LLC bought a new stake in Turning Point Brands in the third quarter valued at $236,000. Finally, Legato Capital Management LLC bought a new stake in Turning Point Brands in the fourth quarter valued at $278,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Roth Mkm reiterated a “buy” rating and issued a $70.00 price target on shares of Turning Point Brands in a report on Friday, January 10th. Craig Hallum lifted their price target on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a report on Thursday, March 6th. Alliance Global Partners began coverage on shares of Turning Point Brands in a report on Monday, March 3rd. They issued a “buy” rating and a $80.00 price target on the stock. Finally, StockNews.com cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $73.33.

Turning Point Brands Trading Down 0.2 %

TPB stock opened at $57.69 on Friday. Turning Point Brands, Inc. has a 1-year low of $26.45 and a 1-year high of $72.54. 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 company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 22.89 and a beta of 0.74. The business has a 50 day simple moving average of $62.87 and a two-hundred day simple moving average of $55.22.

Turning Point Brands Increases Dividend

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

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.