AlphaQuest LLC Acquires 1,490 Shares of Turning Point Brands, Inc. (NYSE:TPB)

AlphaQuest LLC raised its stake in Turning Point Brands, Inc. (NYSE:TPB) by 56.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,131 shares of the company’s stock after acquiring an additional 1,490 shares during the quarter. AlphaQuest LLC’s holdings in Turning Point Brands were worth $248,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. USA Financial Formulas bought a new stake in Turning Point Brands during the 4th quarter worth $73,000. Levin Capital Strategies L.P. bought a new position in Turning Point Brands in the 4th quarter valued at approximately $212,000. Entropy Technologies LP acquired a new stake in Turning Point Brands during the 4th quarter worth approximately $234,000. Legato Capital Management LLC bought a new stake in Turning Point Brands during the 4th quarter worth approximately $278,000. Finally, Aigen Investment Management LP acquired a new position in Turning Point Brands in the 3rd quarter valued at approximately $221,000. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Price Performance

Turning Point Brands stock opened at $58.41 on Friday. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 23.18 and a beta of 0.75. Turning Point Brands, Inc. has a 52-week low of $26.45 and a 52-week high of $72.54. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The stock’s 50 day moving average price is $62.71 and its two-hundred day moving average price is $54.69.

Turning Point Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend 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 0.51%. Turning Point Brands’s dividend payout ratio is currently 14.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TPB shares. Craig Hallum lifted their price target on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Alliance Global Partners began coverage on Turning Point Brands in a research report on Monday, March 3rd. They issued a “buy” rating and a $80.00 price target on the stock. 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 report on Thursday, March 6th. Finally, StockNews.com lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $73.33.

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.