Findell Capital Management LLC Has $13.77 Million Position in Turning Point Brands, Inc. $TPB

Key Points

• Findell Capital Management increased its stake in Turning Point Brands by 41.1% in the fourth quarter, lifting its position to 127,000 shares worth about $13.77 million.
• Turning Point Brands reported better-than-expected quarterly results, with EPS of $0.76 versus $0.68 expected and revenue of $124.28 million, up 16.8% year over year.
• The company declared a quarterly dividend of $0.08 per share, while analysts currently have a consensus rating of Hold with an average price target of $118.75.

Findell Capital Management LLC raised its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 41.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,000 shares of the company's stock after buying an additional 37,000 shares during the period. Turning Point Brands comprises approximately 4.0% of Findell Capital Management LLC's investment portfolio, making the stock its 5th biggest position. Findell Capital Management LLC owned approximately 0.67% of Turning Point Brands worth $13,767,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in TPB. Lord Abbett & CO. LLC bought a new stake in Turning Point Brands during the fourth quarter worth approximately $28,454,000. Wellington Management Group LLP bought a new stake in Turning Point Brands during the third quarter worth approximately $20,788,000. First Trust Advisors LP boosted its holdings in 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 buying an additional 207,604 shares in the last quarter. Copeland Capital Management LLC boosted its holdings in Turning Point Brands by 29,795.8% during the fourth quarter. Copeland Capital Management LLC now owns 204,188 shares of the company's stock worth $22,134,000 after buying an additional 203,505 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its holdings in Turning Point Brands by 28.9% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 869,747 shares of the company's stock worth $94,281,000 after buying an additional 194,938 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Brian Wigginton sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total value of $366,680.00. Following the completion of the transaction, the chief accounting officer owned 9,230 shares of the company's stock, valued at approximately $846,114.10. This trade represents a 30.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.40% of the company's stock.

Turning Point Brands Trading Down 5.0%

Turning Point Brands stock opened at $79.55 on Thursday. The company has a 50 day moving average price of $83.78 and a 200 day moving average price of $99.67. Turning Point Brands, Inc. has a 52 week low of $65.80 and a 52 week high of $146.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.05 and a current ratio of 5.87. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 27.06 and a beta of 0.92.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.08. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The firm had revenue of $124.28 million during the quarter, compared to analyst estimates of $115.67 million. During the same quarter last year, the business posted $0.91 EPS. The company's revenue was up 16.8% on a year-over-year basis. Research analysts forecast that Turning Point Brands, Inc. will post 1.43 EPS for the current year.

Turning Point Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Turning Point Brands's dividend payout ratio (DPR) is currently 10.88%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings cut shares of Turning Point Brands from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 2nd. Zacks Research cut shares of Turning Point Brands from a "hold" rating to a "strong sell" rating in a report on Monday, March 2nd. Needham & Company LLC raised shares of Turning Point Brands from a "hold" rating to a "buy" rating and set a $125.00 price objective for the company in a research note on Friday, May 8th. Finally, Wall Street Zen raised shares of Turning Point Brands from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 6th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $118.75.

Turning Point Brands Profile

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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