Principal Financial Group Inc. Buys 482 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Principal Financial Group Inc. boosted its stake in shares of Turning Point Brands, Inc. (NYSE:TPB) by 7.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,247 shares of the company’s stock after acquiring an additional 482 shares during the period. Principal Financial Group Inc.’s holdings in Turning Point Brands were worth $436,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. USA Financial Formulas bought a new position in Turning Point Brands during the 4th quarter worth $73,000. Aigen Investment Management LP acquired a new position in shares of Turning Point Brands during the 3rd quarter worth $221,000. Entropy Technologies LP acquired a new position in shares of Turning Point Brands during the 4th quarter worth $234,000. Moran Wealth Management LLC acquired a new position in shares of Turning Point Brands during the 3rd quarter worth $236,000. Finally, Legato Capital Management LLC acquired a new position in shares of Turning Point Brands during the 4th quarter worth $278,000. Institutional investors own 96.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TPB shares. Benchmark boosted their price target on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. StockNews.com raised Turning Point Brands from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Roth Mkm reissued a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a report on Friday, January 10th. Alliance Global Partners started coverage on Turning Point Brands in a report on Monday, March 3rd. They set a “buy” rating and a $80.00 price target for the company. Finally, Craig Hallum boosted their price target on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Turning Point Brands presently has a consensus rating of “Buy” and a consensus target price of $71.00.

Turning Point Brands Price Performance

Shares of TPB opened at $61.55 on Friday. Turning Point Brands, Inc. has a 12-month low of $26.35 and a 12-month high of $72.54. The business has a 50-day simple moving average of $62.90 and a two-hundred day simple moving average of $53.92. 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 stock has a market cap of $1.09 billion, a PE ratio of 24.43 and a beta of 0.74.

Turning Point Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Friday, March 21st. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.07. Turning Point Brands’s dividend payout ratio is presently 11.90%.

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.