Turning Point Brands, Inc. (NYSE:TPB) Shares Sold by American Century Companies Inc.

American Century Companies Inc. trimmed its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 622,759 shares of the company’s stock after selling 55,986 shares during the period. American Century Companies Inc.’s holdings in Turning Point Brands were worth $37,428,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TPB. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Turning Point Brands during the third quarter valued at $326,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Turning Point Brands by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 145,281 shares of the company’s stock valued at $6,269,000 after buying an additional 2,442 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Turning Point Brands by 22.8% in the third quarter. BNP Paribas Financial Markets now owns 38,571 shares of the company’s stock worth $1,664,000 after buying an additional 7,170 shares during the last quarter. Martingale Asset Management L P grew its holdings in Turning Point Brands by 1.4% during the third quarter. Martingale Asset Management L P now owns 24,686 shares of the company’s stock worth $1,065,000 after acquiring an additional 329 shares during the period. Finally, Verition Fund Management LLC purchased a new position in Turning Point Brands during the third quarter valued at approximately $435,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. 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 started coverage on shares of Turning Point Brands in a research report 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. Craig Hallum raised their target price on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, StockNews.com cut Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $73.33.

Turning Point Brands Stock Up 0.3 %

Shares of NYSE TPB opened at $59.29 on Friday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 23.53 and a beta of 0.75. The company’s 50-day simple moving average is $63.10 and its 200-day simple moving average is $55.75. 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 52-week low of $26.45 and a 52-week high of $72.54.

Turning Point Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.51%. This is a boost 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 presently 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.