Ieq Capital LLC Buys New Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Ieq Capital LLC bought a new position in Turning Point Brands, Inc. (NYSE:TPB) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 6,117 shares of the company’s stock, valued at approximately $368,000.

Several other institutional investors have also bought and sold shares of TPB. Allspring Global Investments Holdings LLC increased its position in shares of Turning Point Brands by 72,406.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 10,876 shares of the company’s stock valued at $469,000 after acquiring an additional 10,861 shares during the last quarter. Aigen Investment Management LP bought a new stake in Turning Point Brands during the 3rd quarter valued at $221,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Turning Point Brands during the 3rd quarter valued at $326,000. Moran Wealth Management LLC purchased a new stake in Turning Point Brands during the 3rd quarter worth about $236,000. Finally, Charles Schwab Investment Management Inc. grew its holdings 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 valued at $6,269,000 after buying an additional 2,442 shares in the last quarter. Institutional investors own 96.12% of the company’s stock.

Wall Street Analysts Forecast Growth

TPB has been the topic of a number of recent analyst reports. Oppenheimer assumed coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price target on the stock. Benchmark increased their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Roth Mkm reaffirmed a “buy” rating and issued a $70.00 price target on shares of Turning Point Brands in a report on Friday, January 10th. StockNews.com lowered Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Finally, Craig Hallum upped their target price on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Turning Point Brands currently has a consensus rating of “Buy” and an average price target of $68.75.

Turning Point Brands Stock Performance

Turning Point Brands stock opened at $68.99 on Friday. The stock has a market cap of $1.22 billion, a P/E ratio of 27.38 and a beta of 0.65. 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 fifty-two week low of $23.95 and a fifty-two week high of $70.99. The firm’s fifty day moving average price is $62.04 and its 200-day moving average price is $52.76.

Turning Point Brands Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 21st. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a dividend yield of 0.43%. Turning Point Brands’s dividend payout ratio is 11.11%.

Turning Point Brands Company 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.