Aquatic Capital Management LLC Sells 1,809 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Aquatic Capital Management LLC decreased its position in Turning Point Brands, Inc. (NYSE:TPB) by 25.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,291 shares of the company’s stock after selling 1,809 shares during the quarter. Aquatic Capital Management LLC’s holdings in Turning Point Brands were worth $318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Northern Right Capital Management L.P. lifted its holdings in shares of Turning Point Brands by 356.6% in the 4th quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company’s stock worth $8,075,000 after acquiring an additional 104,931 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Turning Point Brands by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 61,727 shares of the company’s stock worth $3,711,000 after purchasing an additional 1,769 shares during the period. State of Tennessee Department of Treasury lifted its stake in Turning Point Brands by 38.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 4,700 shares of the company’s stock worth $282,000 after purchasing an additional 1,300 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Turning Point Brands by 29.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock valued at $142,000 after buying an additional 532 shares during the period. Finally, MetLife Investment Management LLC grew its stake in shares of Turning Point Brands by 6.0% during the fourth quarter. MetLife Investment Management LLC now owns 10,373 shares of the company’s stock valued at $623,000 after buying an additional 587 shares during the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on TPB. Roth Mkm reissued a “buy” rating and issued a $70.00 target price on shares of Turning Point Brands in a research note on Friday, January 10th. Alliance Global Partners started coverage on Turning Point Brands in a research note on Monday, March 3rd. They set a “buy” rating and a $80.00 price objective for the company. StockNews.com raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Friday, April 18th. Finally, Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a research report on Thursday, March 6th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $73.33.

Turning Point Brands Price Performance

TPB opened at $63.53 on Friday. Turning Point Brands, Inc. has a 12-month low of $30.61 and a 12-month high of $72.54. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 25.21 and a beta of 0.69. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The stock has a fifty day simple moving average of $59.67 and a two-hundred day simple moving average of $59.07.

Turning Point Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 21st were paid a dividend of $0.075 per share. The ex-dividend date was Friday, March 21st. This represents a $0.30 annualized dividend and a yield of 0.47%. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.07. 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.