Russell Investments Group Ltd. Acquires 23,961 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Russell Investments Group Ltd. lifted its position in Turning Point Brands, Inc. (NYSE:TPB) by 2,339.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,985 shares of the company’s stock after purchasing an additional 23,961 shares during the period. Russell Investments Group Ltd. owned 0.14% of Turning Point Brands worth $1,502,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Entropy Technologies LP bought a new stake in Turning Point Brands during the fourth quarter valued at about $234,000. 272 Capital LP purchased a new stake in Turning Point Brands in the 3rd quarter worth approximately $1,488,000. Legato Capital Management LLC acquired a new position in shares of Turning Point Brands in the fourth quarter worth about $278,000. Principal Financial Group Inc. raised its stake in shares of Turning Point Brands by 7.1% during the 4th quarter. Principal Financial Group Inc. now owns 7,247 shares of the company’s stock worth $436,000 after buying an additional 482 shares during the period. Finally, Barclays PLC grew its position in shares of Turning Point Brands by 298.6% in the third quarter. Barclays PLC now owns 29,274 shares of the company’s stock valued at $1,262,000 after purchasing an additional 21,930 shares during the period. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Stock Performance

Shares of TPB stock opened at $57.72 on Friday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 22.90 and a beta of 0.70. Turning Point Brands, Inc. has a 1 year low of $27.48 and a 1 year high of $72.54. The stock’s 50-day moving average is $61.56 and its two-hundred day moving average is $57.81. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21.

Turning Point Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were paid a $0.075 dividend. 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 0.52%. The ex-dividend date was Friday, March 21st. Turning Point Brands’s payout ratio is currently 14.15%.

Analyst Ratings Changes

TPB has been the topic of several recent research reports. Roth Mkm reaffirmed a “buy” rating and set a $70.00 target price on shares of Turning Point Brands in a research note on Friday, January 10th. StockNews.com raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Friday. Alliance Global Partners began coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They set a “buy” rating and a $80.00 price target on the stock. Finally, Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a report on Thursday, March 6th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Turning Point Brands has an average 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.