Copeland Capital Management LLC Acquires 203,020 Shares of Turning Point Brands, Inc. $TPB

Key Points

• Copeland Capital Management nearly doubled its stake in Turning Point Brands, buying 203,020 additional shares and lifting its holdings to 407,208 shares, worth about $35.3 million.
• The company reported better-than-expected Q1 results, posting $0.76 EPS on revenue of $124.28 million, both above analyst estimates, with revenue rising 16.8% year over year.
• Turning Point Brands also declared a quarterly dividend of $0.08 per share, while analysts currently have a Hold consensus and an average price target of $118.75.

Copeland Capital Management LLC boosted its holdings in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 99.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 407,208 shares of the company's stock after buying an additional 203,020 shares during the period. Copeland Capital Management LLC owned approximately 2.11% of Turning Point Brands worth $35,342,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPB. Vanguard Group Inc. raised its position in shares of Turning Point Brands by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 1,451,394 shares of the company's stock valued at $157,331,000 after acquiring an additional 61,311 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in shares of Turning Point Brands by 28.9% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 869,747 shares of the company's stock valued at $94,281,000 after purchasing an additional 194,938 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Turning Point Brands by 4.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 847,050 shares of the company's stock worth $91,820,000 after purchasing an additional 38,437 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Turning Point Brands by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 541,667 shares of the company's stock worth $58,728,000 after purchasing an additional 28,463 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Turning Point Brands by 72.4% during the fourth quarter. First Trust Advisors LP now owns 494,262 shares of the company's stock worth $53,578,000 after purchasing an additional 207,604 shares during the period. 96.12% of the stock is owned by institutional investors.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, CAO Brian Wigginton sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total value of $366,680.00. Following the sale, the chief accounting officer owned 9,230 shares in the company, valued at approximately $846,114.10. The trade was a 30.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Turning Point Brands from a "strong sell" rating to a "sell" rating in a report on Saturday, June 6th. Needham & Company LLC upgraded Turning Point Brands from a "hold" rating to a "buy" rating and set a $125.00 target price on the stock in a report on Friday, May 8th. Finally, Weiss Ratings lowered Turning Point Brands from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 2nd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $118.75.

Turning Point Brands Trading Down 0.8%

Shares of NYSE TPB opened at $82.75 on Friday. The company's fifty day moving average is $85.51 and its 200-day moving average is $96.56. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 28.14 and a beta of 0.92. Turning Point Brands, Inc. has a twelve month low of $65.80 and a twelve month high of $146.90. The company has a quick ratio of 4.05, a current ratio of 5.87 and a debt-to-equity ratio of 0.76.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.08. The business had revenue of $124.28 million during the quarter, compared to analysts' expectations of $115.67 million. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The firm's quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. Equities research analysts predict that Turning Point Brands, Inc. will post 1.39 EPS for the current year.

Turning Point Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 19th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Thursday, June 18th. Turning Point Brands's dividend payout ratio is 10.88%.

About Turning Point Brands

Turning Point Brands, Inc NYSE: TPB is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker's.

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