Dimensional Fund Advisors LP Sells 5,772 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Dimensional Fund Advisors LP trimmed its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 445,933 shares of the company’s stock after selling 5,772 shares during the quarter. Dimensional Fund Advisors LP owned 2.52% of Turning Point Brands worth $26,801,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TPB. USA Financial Formulas bought a new stake in Turning Point Brands during the 4th quarter valued at about $73,000. Levin Capital Strategies L.P. bought a new stake in shares of Turning Point Brands during the fourth quarter valued at approximately $212,000. Entropy Technologies LP purchased a new stake in shares of Turning Point Brands in the fourth quarter valued at approximately $234,000. AlphaQuest LLC grew its stake in Turning Point Brands by 56.4% in the fourth quarter. AlphaQuest LLC now owns 4,131 shares of the company’s stock worth $248,000 after purchasing an additional 1,490 shares in the last quarter. Finally, Semanteon Capital Management LP purchased a new position in Turning Point Brands during the 4th quarter worth $271,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Turning Point Brands Stock Performance

TPB stock opened at $64.57 on Wednesday. Turning Point Brands, Inc. has a one year low of $30.61 and a one year high of $72.54. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 25.62 and a beta of 0.69. 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 simple moving average of $59.50 and a two-hundred day simple moving average of $59.37.

Turning Point Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.46%. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, March 21st. Turning Point Brands’s dividend payout ratio (DPR) is 14.15%.

Analysts Set New Price Targets

TPB has been the topic of a number of recent research reports. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a research report on Thursday, March 6th. Roth Mkm reissued a “buy” rating and set a $70.00 target price on shares of Turning Point Brands in a research report on Friday, January 10th. StockNews.com lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, 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 objective on the stock. 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. According to data from MarketBeat.com, Turning Point Brands has a consensus 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.