18,184 Turning Point Brands, Inc. $TPB Shares Acquired by Copeland Capital Management LLC

Key Points

• Copeland Capital Management increased its Turning Point Brands stake by 2.6%, buying 18,184 shares to own 708,507 shares valued at approximately $41.6 million. Institutional investors collectively own 96.12% of TPB.
• Analyst sentiment remains mixed but leans positive, with four Buy, one Hold, and one Sell rating; the stock has an average “Moderate Buy” rating and a $109 price target.
• TPB reported quarterly revenue of $142.96 million and adjusted earnings of $0.23 per share, beating estimates, while revenue rose 22.6% year over year. The company also maintains a quarterly dividend of $0.08 per share.

Copeland Capital Management LLC raised its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 708,507 shares of the company's stock after purchasing an additional 18,184 shares during the quarter. Copeland Capital Management LLC owned approximately 3.66% of Turning Point Brands worth $41,589,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPB. BlackRock Inc. bought a new position in shares of Turning Point Brands in the second quarter valued at about $137,273,000. First Trust Advisors LP lifted its stake in shares of Turning Point Brands by 39.6% during the 1st quarter. First Trust Advisors LP now owns 689,905 shares of the company's stock worth $59,877,000 after buying an additional 195,643 shares during the last quarter. Maple Rock Capital Partners Inc. lifted its stake in shares of Turning Point Brands by 57.5% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 686,800 shares of the company's stock worth $58,248,000 after buying an additional 250,800 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Turning Point Brands during the 2nd quarter worth about $47,278,000. Finally, Mangrove Partners IM LLC boosted its holdings in shares of Turning Point Brands by 1.6% during the 4th quarter. Mangrove Partners IM LLC now owns 265,205 shares of the company's stock worth $28,748,000 after buying an additional 4,214 shares during the period. 96.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on TPB shares. BTIG Research restated a "buy" rating on shares of Turning Point Brands in a research report on Monday, August 10th. Oppenheimer reduced their price objective on Turning Point Brands from $130.00 to $90.00 and set an "outperform" rating for the company in a report on Tuesday, September 22nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Turning Point Brands in a research report on Friday, August 28th. Wall Street Zen raised Turning Point Brands from a "strong sell" rating to a "sell" rating in a research report on Monday, August 10th. Finally, Compass Point set a $116.00 target price on Turning Point Brands in a research note on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $109.00.

Turning Point Brands Stock Down 1.5%

TPB stock opened at $55.39 on Wednesday. Turning Point Brands, Inc. has a fifty-two week low of $54.69 and a fifty-two week high of $146.90. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.67 and a quick ratio of 4.16. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 24.13 and a beta of 0.97. The business's fifty day moving average price is $72.95 and its two-hundred day moving average price is $79.28.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.11. The company had revenue of $142.96 million during the quarter, compared to analysts' expectations of $129.56 million. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. Turning Point Brands's quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 earnings per share. On average, equities analysts anticipate that Turning Point Brands, Inc. will post 1.19 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 18th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, September 18th. Turning Point Brands's payout ratio is presently 13.73%.

Turning Point Brands Company Profile

Turning Point Brands, Inc is a Louisville, Kentucky-based consumer products company focused primarily on tobacco, nicotine and related products. The company develops, manufactures, markets and distributes products through convenience stores, tobacco shops, mass merchants, e-commerce channels and other retailers in the United States and select international markets.

Its portfolio includes rolling papers, cigar and cigarette wraps, and other smoking accessories sold under the Zig-Zag brand; moist snuff and other smokeless tobacco products marketed under the Stoker's brand; and modern oral nicotine products, including FRE nicotine pouches.

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