Turning Point Brands, Inc. (NYSE:TPB) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lessened its position in Turning Point Brands, Inc. (NYSE:TPB) by 79.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,105 shares of the company’s stock after selling 71,800 shares during the period. Prudential Financial Inc.’s holdings in Turning Point Brands were worth $1,148,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Turning Point Brands by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,524,640 shares of the company’s stock valued at $91,631,000 after purchasing an additional 18,440 shares during the period. Sei Investments Co. raised its stake in Turning Point Brands by 0.4% during the 4th quarter. Sei Investments Co. now owns 78,087 shares of the company’s stock valued at $4,693,000 after acquiring an additional 283 shares in the last quarter. Quantbot Technologies LP boosted its position in Turning Point Brands by 577.6% during the 4th quarter. Quantbot Technologies LP now owns 10,245 shares of the company’s stock worth $616,000 after acquiring an additional 8,733 shares during the period. Semanteon Capital Management LP acquired a new position in Turning Point Brands during the 4th quarter worth $271,000. Finally, Counterpoint Mutual Funds LLC grew its stake in shares of Turning Point Brands by 13.4% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 7,089 shares of the company’s stock worth $426,000 after purchasing an additional 840 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TPB shares. StockNews.com downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Roth Mkm reaffirmed a “buy” rating and issued a $70.00 price target on shares of Turning Point Brands in a research note on Friday, January 10th. Alliance Global Partners started 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 objective on the stock. Finally, Industrial Alliance Securities set a $85.00 target price 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $73.33.

Turning Point Brands Stock Performance

NYSE:TPB opened at $54.61 on Monday. The company has a 50-day moving average of $63.23 and a 200-day moving average of $56.81. The firm has a market cap of $969.96 million, a price-to-earnings ratio of 21.67 and a beta of 0.70. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. Turning Point Brands, Inc. has a twelve month low of $26.45 and a twelve month high of $72.54.

Turning Point Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be given a $0.075 dividend. This is a positive change 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 0.55%. Turning Point Brands’s payout ratio is 14.15%.

About Turning Point Brands

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.