1 week Ago By Defense World Staff
Legal & General Group Plc lowered its stake in shares of Turning Point Brands, Inc. ( NYSE:TPB – Free Report ) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC).
The institutional investor owned 16,383 shares of the company’s stock after selling 1,333 shares during the quarter. Legal & General Group Plc owned about 0.09% of Turning Point Brands worth $985,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in TPB. Arrowstreet Capital Limited Partnership grew its holdings in shares of Turning Point Brands by 36.1% during the 4th quarter.
Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company’s stock worth $19,145,000 after purchasing an additional 84,552 shares in the last quarter. Invesco Ltd. increased its holdings in Turning Point Brands by 205.
8% in the 4th quarter. Invesco Ltd. now owns 97,261 shares of the company’s stock valued at $5,845,000 after buying an additional 65,457 shares during the period.
Charles Schwab Investment Management Inc. increased its holdings in Turning Point Brands by 40.2% in the 4th quarter.
Charles Schwab Investment Management Inc. now owns 203,706 shares of the company’s stock valued at $12,243,000 after buying an additional 58,425 shares during the period. JPMorgan Chase & Co.
lifted its holdings in shares of Turning Point Brands by 84.5% during the 3rd quarter. JPMorgan Chase & Co.
now owns 123,079 shares of the company’s stock worth $5,311,000 after acquiring an additional 56,364 shares during the period. Finally, 272 Capital LP acquired a new stake in shares of Turning Point Brands during the 3rd quarter worth approximately $1,488,000. Institutional investors own 96.
12% of the company’s stock. Analysts Set New Price Targets TPB has been the subject of several recent analyst reports. Alliance Global Partners began coverage on Turning Point Brands in a research note on Monday, March 3rd.
They set a “buy” rating and a $80.00 target price for the company. Roth Mkm restated a “buy” rating and set a $70.
00 price objective on shares of Turning Point Brands in a research report on Friday, January 10th. Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a research report on Thursday, March 6th.
Finally, StockNews.com raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a report on Friday, April 18th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock.
Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $73.33.
Turning Point Brands Price Performance Turning Point Brands stock opened at $59.36 on Monday. The stock has a 50-day moving average price of $60.
39 and a two-hundred day moving average price of $58.53. Turning Point Brands, Inc.
has a 12 month low of $28.16 and a 12 month high of $72.54.
The company has a market capitalization of $1.05 billion, a PE ratio of 23.55 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 Increases Dividend The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th.
Investors of record on Friday, March 21st were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 21st.
This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.
30 annualized dividend and a yield of 0.51%. Turning Point Brands’s dividend payout ratio (DPR) is currently 14.
15%. Turning Point Brands Profile ( Free Report ) 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. Recommended Stories Five stocks we like better than Turning Point Brands Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness Texas Instruments: Earnings Beat, Upbeat Guidance Fuel Recovery What is diluted earnings per share (Diluted EPS)? O’Reilly Automotive: An Anytime Buy for Buy-and-Hold Investors Basic Materials Stocks Investing Chipotle Mexican Grill Serves Smoking Hot Entry Point in Q2 Receive News & Ratings for Turning Point Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turning Point Brands and related companies with MarketBeat.com's FREE daily email newsletter .
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