Aristides Capital LLC Sells 61,110 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Aristides Capital LLC trimmed its stake in Turning Point Brands, Inc. (NYSE:TPB) by 36.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,480 shares of the company’s stock after selling 61,110 shares during the quarter. Turning Point Brands accounts for 1.3% of Aristides Capital LLC’s portfolio, making the stock its 12th biggest holding. Aristides Capital LLC’s holdings in Turning Point Brands were worth $6,460,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Sei Investments Co. boosted its stake in Turning Point Brands by 0.4% in the 4th quarter. Sei Investments Co. now owns 78,087 shares of the company’s stock worth $4,693,000 after purchasing an additional 283 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Turning Point Brands by 7.1% during the fourth quarter. Principal Financial Group Inc. now owns 7,247 shares of the company’s stock valued at $436,000 after acquiring an additional 482 shares in the last quarter. Access Investment Management LLC raised its holdings in Turning Point Brands by 0.4% in the 4th quarter. Access Investment Management LLC now owns 122,125 shares of the company’s stock worth $7,340,000 after acquiring an additional 540 shares during the last quarter. Counterpoint Mutual Funds LLC lifted its position in Turning Point Brands by 13.4% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 7,089 shares of the company’s stock valued at $426,000 after acquiring an additional 840 shares in the last quarter. Finally, Moran Wealth Management LLC boosted its stake in Turning Point Brands by 16.4% during the 4th quarter. Moran Wealth Management LLC now owns 6,368 shares of the company’s stock valued at $383,000 after purchasing an additional 897 shares during the last quarter. 96.12% of the stock is owned by hedge funds and other institutional investors.

Turning Point Brands Trading Down 5.9 %

Turning Point Brands stock opened at $54.61 on Friday. Turning Point Brands, Inc. has a 52-week low of $26.45 and a 52-week high of $72.54. The company has a market cap of $969.96 million, a P/E ratio of 21.67 and a beta of 0.70. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The business has a 50-day simple moving average of $63.23 and a two-hundred day simple moving average of $56.69.

Turning Point Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.55%. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, March 21st. Turning Point Brands’s payout ratio is 14.15%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TPB. StockNews.com cut Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a research report on Thursday, March 6th. Roth Mkm reaffirmed a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a report on Friday, January 10th. Finally, Alliance Global Partners began coverage on shares of Turning Point Brands in a report on Monday, March 3rd. They set a “buy” rating and a $80.00 price objective for the company. One research 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 stock. According to data from MarketBeat, Turning Point Brands has an average rating of “Buy” and an average price target 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.