Northern Right Capital Management L.P. Purchases 104,931 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Northern Right Capital Management L.P. raised its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 356.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 134,354 shares of the company’s stock after acquiring an additional 104,931 shares during the quarter. Turning Point Brands makes up approximately 3.0% of Northern Right Capital Management L.P.’s holdings, making the stock its 13th biggest position. Northern Right Capital Management L.P. owned approximately 0.76% of Turning Point Brands worth $8,075,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. USA Financial Formulas bought a new position in Turning Point Brands in the fourth quarter valued at $73,000. Tower Research Capital LLC TRC grew its holdings in shares of Turning Point Brands by 29.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock valued at $142,000 after acquiring an additional 532 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in shares of Turning Point Brands in the fourth quarter valued at about $212,000. Entropy Technologies LP bought a new stake in Turning Point Brands during the fourth quarter worth about $234,000. Finally, AlphaQuest LLC boosted its position in Turning Point Brands by 56.4% during the fourth quarter. AlphaQuest LLC now owns 4,131 shares of the company’s stock valued at $248,000 after purchasing an additional 1,490 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Stock Performance

NYSE TPB opened at $59.36 on Friday. The stock has a market cap of $1.05 billion, a PE ratio of 23.55 and a beta of 0.70. 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 firm has a 50-day moving average of $60.39 and a 200-day moving average of $58.29. Turning Point Brands, Inc. has a 52-week low of $27.48 and a 52-week high of $72.54.

Turning Point Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 21st were issued a dividend of $0.075 per share. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Friday, March 21st. Turning Point Brands’s dividend payout ratio (DPR) is presently 14.15%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TPB shares. Roth Mkm reaffirmed a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They set a “buy” rating and a $80.00 price target on the stock. StockNews.com raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Friday, April 18th. Finally, Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a report on Thursday, March 6th. Six equities research 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, the company currently has an average rating of “Buy” and a consensus target price 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.