Turning Point Brands, Inc. $TPB Shares Purchased by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans increased its Turning Point Brands stake by 4.8% in the fourth quarter, adding 38,437 shares and bringing its total holding to 847,050 shares worth about $91.8 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 versus $115.67 million forecast. Revenue rose 16.8% year over year.
• The company also declared a quarterly dividend of $0.08 per share, payable July 10, while analysts remain mixed overall with a consensus Hold rating and a $118.75 price target.

Thrivent Financial for Lutherans boosted its stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 847,050 shares of the company's stock after buying an additional 38,437 shares during the period. Thrivent Financial for Lutherans owned 4.44% of Turning Point Brands worth $91,820,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its position in Turning Point Brands by 2.2% in the third quarter. Arizona State Retirement System now owns 5,297 shares of the company's stock worth $524,000 after buying an additional 114 shares during the period. GAMMA Investing LLC increased its position in Turning Point Brands by 33.4% in the fourth quarter. GAMMA Investing LLC now owns 491 shares of the company's stock worth $53,000 after buying an additional 123 shares during the period. CWM LLC increased its position in Turning Point Brands by 6.2% in the fourth quarter. CWM LLC now owns 2,706 shares of the company's stock worth $293,000 after buying an additional 157 shares during the period. Huntington National Bank increased its position in Turning Point Brands by 54.9% in the third quarter. Huntington National Bank now owns 457 shares of the company's stock worth $45,000 after buying an additional 162 shares during the period. Finally, Boston Partners increased its position in Turning Point Brands by 1.5% in the third quarter. Boston Partners now owns 13,712 shares of the company's stock worth $1,356,000 after buying an additional 206 shares during the period. 96.12% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Andrew Flynn sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $97.57, for a total transaction of $195,140.00. Following the transaction, the chief financial officer directly owned 9,443 shares of the company's stock, valued at approximately $921,353.51. This trade represents a 17.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brian Wigginton sold 4,000 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer directly owned 9,230 shares in the company, valued at $846,114.10. This trade represents a 30.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TPB shares. Weiss Ratings lowered Turning Point Brands from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday. Wall Street Zen lowered Turning Point Brands from a "hold" rating to a "strong sell" rating in a research report on Saturday. Zacks Research lowered Turning Point Brands from a "hold" rating to a "strong sell" rating in a research report on Monday, March 2nd. Finally, Needham & Company LLC raised Turning Point Brands from a "hold" rating to a "buy" rating and set a $125.00 price target on the stock in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $118.75.

Turning Point Brands Price Performance

Shares of TPB opened at $89.70 on Friday. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 30.51 and a beta of 0.93. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.12 and a current ratio of 5.87. Turning Point Brands, Inc. has a one year low of $65.80 and a one year high of $146.90. The stock's fifty day moving average is $83.95 and its 200-day moving average is $101.51.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.08. The company had revenue of $124.28 million for the quarter, compared to analyst estimates of $115.67 million. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.The company's quarterly revenue was up 16.8% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. Equities analysts anticipate that Turning Point Brands, Inc. will post 2.66 EPS for the current year.

Turning Point Brands Announces Dividend

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

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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