Sei Investments Co. Acquires 283 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Sei Investments Co. increased its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,087 shares of the company’s stock after purchasing an additional 283 shares during the period. Sei Investments Co. owned approximately 0.44% of Turning Point Brands worth $4,693,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPB. Quantbot Technologies LP boosted its stake in shares of Turning Point Brands by 577.6% in the 4th quarter. Quantbot Technologies LP now owns 10,245 shares of the company’s stock valued at $616,000 after purchasing an additional 8,733 shares in the last quarter. Semanteon Capital Management LP bought a new position in Turning Point Brands during the 4th quarter valued at about $271,000. Counterpoint Mutual Funds LLC boosted its position in Turning Point Brands by 13.4% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 7,089 shares of the company’s stock valued at $426,000 after buying an additional 840 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in Turning Point Brands during the fourth quarter worth about $361,000. Finally, King Luther Capital Management Corp acquired a new stake in shares of Turning Point Brands during the fourth quarter worth approximately $1,374,000. Institutional investors own 96.12% of the company’s stock.

Wall Street Analysts Forecast Growth

TPB has been the topic of several recent analyst reports. Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a report on Thursday, March 6th. Alliance Global Partners started coverage on Turning Point Brands in a research report on Monday, March 3rd. They issued a “buy” rating and a $80.00 price objective for the company. Craig Hallum increased their target price on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Roth Mkm restated a “buy” rating and issued a $70.00 target price on shares of Turning Point Brands in a research note on Friday, January 10th. Finally, StockNews.com downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $73.33.

Turning Point Brands Stock Up 0.8 %

Turning Point Brands stock opened at $60.28 on Thursday. The company’s 50 day simple moving average is $63.25 and its 200 day simple moving average is $56.44. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 23.92 and a beta of 0.70. Turning Point Brands, Inc. has a fifty-two week low of $26.45 and a fifty-two week 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.

Turning Point Brands Increases Dividend

The firm 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 dividend of $0.075 per share. The ex-dividend date 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 yield of 0.50%. Turning Point Brands’s payout ratio is currently 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.