63,511 Shares in Turning Point Brands, Inc. (NYSE:TPB) Acquired by Portolan Capital Management LLC

Portolan Capital Management LLC acquired a new position in shares of Turning Point Brands, Inc. (NYSE:TPB) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 63,511 shares of the company’s stock, valued at approximately $3,817,000. Portolan Capital Management LLC owned about 0.36% of Turning Point Brands at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TPB. Stifel Financial Corp grew its position in shares of Turning Point Brands by 6.8% during the third quarter. Stifel Financial Corp now owns 25,646 shares of the company’s stock worth $1,107,000 after acquiring an additional 1,634 shares during the last quarter. Jane Street Group LLC boosted its stake in Turning Point Brands by 9.9% during the 3rd quarter. Jane Street Group LLC now owns 29,228 shares of the company’s stock valued at $1,261,000 after purchasing an additional 2,637 shares during the period. Barclays PLC grew its position in Turning Point Brands by 298.6% in the 3rd quarter. Barclays PLC now owns 29,274 shares of the company’s stock worth $1,262,000 after purchasing an additional 21,930 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Turning Point Brands by 3.9% during the third quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock valued at $17,506,000 after buying an additional 15,344 shares during the last quarter. Finally, 272 Capital LP acquired a new position in shares of Turning Point Brands during the third quarter worth approximately $1,488,000. 96.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. StockNews.com cut Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a research note on Thursday, March 6th. Roth Mkm reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Finally, Alliance Global Partners began coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They set a “buy” rating and a $80.00 target price on the stock. One 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 stock. According to MarketBeat.com, Turning Point Brands presently has an average rating of “Buy” and an average price target of $73.33.

Turning Point Brands Price Performance

NYSE:TPB opened at $55.78 on Monday. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The business’s 50-day moving average price is $62.47 and its 200 day moving average price is $57.41. Turning Point Brands, Inc. has a 52-week low of $26.45 and a 52-week high of $72.54. The firm has a market cap of $990.69 million, a P/E ratio of 22.13 and a beta of 0.70.

Turning Point Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 21st were paid a $0.075 dividend. The ex-dividend date was Friday, March 21st. This represents a $0.30 dividend on an annualized basis and a yield of 0.54%. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.07. Turning Point Brands’s dividend payout ratio (DPR) is currently 14.15%.

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.