Moran Wealth Management LLC Purchases 897 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Moran Wealth Management LLC grew its position in shares of Turning Point Brands, Inc. (NYSE:TPB) by 16.4% in the fourth quarter, Holdings Channel reports. The fund owned 6,368 shares of the company’s stock after buying an additional 897 shares during the quarter. Moran Wealth Management LLC’s holdings in Turning Point Brands were worth $383,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aigen Investment Management LP purchased a new stake in Turning Point Brands during the third quarter valued at $221,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Turning Point Brands in the 3rd quarter worth about $326,000. Charles Schwab Investment Management Inc. raised its position in shares of Turning Point Brands by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 145,281 shares of the company’s stock valued at $6,269,000 after buying an additional 2,442 shares in the last quarter. Pekin Hardy Strauss Inc. bought a new position in shares of Turning Point Brands in the 3rd quarter valued at about $1,260,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Turning Point Brands by 22.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 38,571 shares of the company’s stock valued at $1,664,000 after acquiring an additional 7,170 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TPB has been the topic of a number of recent research reports. StockNews.com downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday. Roth Mkm restated a “buy” rating and issued a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a research report on Thursday, March 6th. Alliance Global Partners began coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They issued a “buy” rating and a $80.00 target price on the stock. Finally, 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 research note on Thursday, December 5th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $73.33.

Turning Point Brands Stock Up 0.5 %

Shares of TPB opened at $59.35 on Thursday. The firm has a fifty day moving average price of $62.83 and a 200-day moving average price of $54.43. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $1.05 billion, a P/E ratio of 23.55 and a beta of 0.75. Turning Point Brands, Inc. has a 12-month low of $26.45 and a 12-month high of $72.54.

Turning Point Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.51%. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, March 21st. Turning Point Brands’s payout ratio is 14.15%.

Turning Point Brands 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.