Aristides Capital LLC Cuts Position in Turning Point Brands, Inc. (NYSE:TPB)

Aristides Capital LLC lowered its position in shares of Turning Point Brands, Inc. (NYSE:TPB) by 36.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,480 shares of the company’s stock after selling 61,110 shares during the period. Turning Point Brands comprises about 1.3% of Aristides Capital LLC’s holdings, making the stock its 12th largest holding. Aristides Capital LLC owned approximately 0.61% of Turning Point Brands worth $6,460,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. USA Financial Formulas purchased a new position in Turning Point Brands in the 4th quarter worth approximately $73,000. Levin Capital Strategies L.P. purchased a new stake in Turning Point Brands during the 4th quarter valued at $212,000. Entropy Technologies LP bought a new stake in Turning Point Brands in the 4th quarter worth $234,000. AlphaQuest LLC raised its stake in shares of 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 acquiring an additional 1,490 shares during the last quarter. Finally, Semanteon Capital Management LP purchased a new stake in shares of Turning Point Brands during the fourth quarter worth about $271,000. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Price Performance

Shares of TPB stock opened at $54.61 on Friday. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The stock has a market cap of $969.96 million, a price-to-earnings ratio of 21.67 and a beta of 0.70. The business’s fifty day moving average is $63.23 and its 200 day moving average is $56.69. Turning Point Brands, Inc. has a twelve month low of $26.45 and a twelve month high of $72.54.

Turning Point Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.55%. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, March 21st. Turning Point Brands’s dividend payout ratio (DPR) is presently 14.15%.

Analysts Set New Price Targets

TPB has been the subject of a number of recent analyst reports. 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. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a research note on Thursday, March 6th. Alliance Global Partners started 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 objective on the stock. Finally, StockNews.com cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $73.33.

Turning Point Brands Company 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.