Arizona State Retirement System Sells 191 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Arizona State Retirement System lessened its position in Turning Point Brands, Inc. (NYSE:TPB) by 3.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,884 shares of the company’s stock after selling 191 shares during the period. Arizona State Retirement System’s holdings in Turning Point Brands were worth $294,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Geode Capital Management LLC increased its holdings in 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. Charles Schwab Investment Management Inc. grew its holdings in shares of Turning Point Brands by 40.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company’s stock worth $12,243,000 after purchasing an additional 58,425 shares during the last quarter. First Sabrepoint Capital Management LP acquired a new stake in shares of Turning Point Brands in the third quarter valued at $7,517,000. JPMorgan Chase & Co. raised its holdings in shares of Turning Point Brands by 84.5% in the third quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock valued at $5,311,000 after buying an additional 56,364 shares during the last quarter. Finally, Access Investment Management LLC lifted its position in Turning Point Brands by 0.4% during the 4th quarter. Access Investment Management LLC now owns 122,125 shares of the company’s stock worth $7,340,000 after buying an additional 540 shares in the last quarter. Institutional investors own 96.12% of the company’s stock.

Analyst Upgrades and Downgrades

TPB has been the subject of several research reports. Roth Mkm restated a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a research report on Friday, January 10th. Alliance Global Partners initiated 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. Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a research report on Thursday, March 6th. StockNews.com lowered Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Finally, Craig Hallum boosted their target price on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $73.33.

Turning Point Brands Trading Up 2.6 %

Shares of NYSE TPB opened at $58.41 on Friday. The company’s 50 day simple moving average is $62.71 and its 200 day simple moving average is $54.69. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. Turning Point Brands, Inc. has a fifty-two week low of $26.45 and a fifty-two week high of $72.54. The firm has a market capitalization of $1.04 billion, a P/E ratio of 23.18 and a beta of 0.75.

Turning Point Brands Increases Dividend

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