Swiss National Bank Trims Position in Turning Point Brands, Inc. (NYSE:TPB)

Swiss National Bank lowered its stake in shares of Turning Point Brands, Inc. (NYSE:TPB) by 4.6% in the fourth quarter, HoldingsChannel reports. The fund owned 33,100 shares of the company’s stock after selling 1,600 shares during the quarter. Swiss National Bank’s holdings in Turning Point Brands were worth $1,989,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Sabrepoint Capital Management LP purchased a new stake in Turning Point Brands during the 3rd quarter worth $7,517,000. 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 valued at $12,243,000 after purchasing an additional 58,425 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Turning Point Brands by 84.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock worth $5,311,000 after buying an additional 56,364 shares during the last quarter. 272 Capital LP acquired a new stake in shares of Turning Point Brands in the 3rd quarter worth about $1,488,000. Finally, King Luther Capital Management Corp acquired a new stake in shares of Turning Point Brands in the fourth quarter valued at approximately $1,374,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Analyst Ratings Changes

TPB has been the topic of a number of recent analyst reports. Roth Mkm restated a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Craig Hallum raised their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Alliance Global Partners began coverage on Turning Point Brands in a report on Monday, March 3rd. They set a “buy” rating and a $80.00 price target on the stock. StockNews.com lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Finally, Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a research note on Thursday, March 6th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Turning Point Brands has an average rating of “Buy” and a consensus price target of $73.33.

Turning Point Brands Price Performance

Turning Point Brands stock opened at $58.96 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. Turning Point Brands, Inc. has a 12-month low of $26.45 and a 12-month high of $72.54. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 23.40 and a beta of 0.75. The business’s 50-day simple moving average is $63.13 and its 200 day simple moving average is $55.89.

Turning Point Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, March 21st. 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 yield of 0.51%. Turning Point Brands’s payout ratio is currently 14.15%.

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.