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

Key Points

• Copeland Capital increased its stake in Turning Point Brands by 29,795.8% in Q4, buying an additional 203,505 shares to hold 204,188 shares (about 1.07% of the company) worth $22.13 million.
• Analysts are mixed: the consensus rating is a "Hold" with a $116.67 average price target, while individual reports range from Zacks' "strong sell" to Oppenheimer's "outperform" ($130); TPB opened at $75.34, below its 50-day ($96.10) and 200-day ($101.74) averages.
• CFO Andrew Flynn sold 2,000 shares on March 4 at an average $97.57, cutting his stake by 17.48% to 9,443 shares; company insiders collectively own 5.40% of the stock.

Copeland Capital Management LLC increased its position in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 29,795.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 204,188 shares of the company's stock after purchasing an additional 203,505 shares during the quarter. Copeland Capital Management LLC owned 1.07% of Turning Point Brands worth $22,134,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TPB. First Horizon Corp purchased a new position in Turning Point Brands during the third quarter worth $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Turning Point Brands during the third quarter worth $28,000. Advisory Services Network LLC purchased a new position in Turning Point Brands during the third quarter worth $28,000. Huntington National Bank increased its position in Turning Point Brands by 54.9% during the third quarter. Huntington National Bank now owns 457 shares of the company's stock worth $45,000 after buying an additional 162 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Turning Point Brands by 33.4% during the fourth quarter. GAMMA Investing LLC now owns 491 shares of the company's stock worth $53,000 after buying an additional 123 shares in the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Turning Point Brands

In related news, CFO Andrew Flynn sold 2,000 shares of the business's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $97.57, for a total value of $195,140.00. Following the transaction, the chief financial officer owned 9,443 shares in the company, valued at approximately $921,353.51. The trade was a 17.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Zacks Research downgraded Turning Point Brands from a "hold" rating to a "strong sell" rating in a research report on Monday, March 2nd. Wall Street Zen downgraded Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, January 17th. Weiss Ratings downgraded Turning Point Brands from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday. Finally, Oppenheimer reissued an "outperform" rating and set a $130.00 price target on shares of Turning Point Brands in a research report on Wednesday, January 14th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $116.67.

Turning Point Brands Price Performance

TPB stock opened at $75.34 on Friday. The stock has a 50-day moving average price of $96.10 and a two-hundred day moving average price of $101.74. Turning Point Brands, Inc. has a 12-month low of $58.04 and a 12-month high of $146.90. The company has a current ratio of 5.56, a quick ratio of 4.12 and a debt-to-equity ratio of 0.79. The company has a market cap of $1.46 billion, a PE ratio of 24.07 and a beta of 1.02.

Turning Point Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 20th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. This is a positive change from Turning Point Brands's previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 20th. Turning Point Brands's payout ratio is presently 10.22%.

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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