Principal Financial Group Inc. Buys 482 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Principal Financial Group Inc. raised its stake in Turning Point Brands, Inc. (NYSE:TPB) by 7.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,247 shares of the company’s stock after buying an additional 482 shares during the period. Principal Financial Group Inc.’s holdings in Turning Point Brands were worth $436,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Turning Point Brands by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock valued at $17,506,000 after purchasing an additional 15,344 shares in the last quarter. First Sabrepoint Capital Management LP bought a new stake in shares of Turning Point Brands during the 3rd quarter valued at about $7,517,000. Charles Schwab Investment Management Inc. boosted 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 purchasing an additional 2,442 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Turning Point Brands by 84.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock valued at $5,311,000 after purchasing an additional 56,364 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Turning Point Brands by 22.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 38,571 shares of the company’s stock valued at $1,664,000 after purchasing an additional 7,170 shares in the last quarter. Institutional investors own 96.12% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on TPB. StockNews.com upgraded Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Benchmark upped their price target on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Oppenheimer began coverage on Turning Point Brands in a research note on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target on the stock. Roth Mkm reaffirmed a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a research note on Friday, January 10th. Finally, Alliance Global Partners began coverage on 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. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Turning Point Brands presently has a consensus rating of “Buy” and an average price target of $71.00.

Turning Point Brands Stock Down 0.0 %

TPB stock opened at $61.55 on Friday. The company has a market cap of $1.09 billion, a P/E ratio of 24.43 and a beta of 0.74. Turning Point Brands, Inc. has a fifty-two week low of $26.35 and a fifty-two week high of $72.54. The stock’s 50 day simple moving average is $62.90 and its 200 day simple moving average is $53.92. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be paid a $0.075 dividend. The ex-dividend date is Friday, March 21st. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a dividend yield of 0.49%. Turning Point Brands’s dividend payout ratio is 11.90%.

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.