Turning Point Brands, Inc. $TPB Stake Decreased by Crawford Investment Counsel Inc.

Key Points

• Crawford Investment Counsel cut its Turning Point Brands stake by 14% in the fourth quarter, though it still held 102,107 shares worth about $11.1 million.
• Turning Point Brands reported better-than-expected quarterly results, with EPS of $0.76 versus $0.68 estimated 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 mixed view overall with a consensus Hold rating and $118.75 average price target.

Crawford Investment Counsel Inc. lessened its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,107 shares of the company's stock after selling 16,633 shares during the period. Crawford Investment Counsel Inc. owned 0.54% of Turning Point Brands worth $11,068,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new stake in shares of Turning Point Brands during the fourth quarter valued at approximately $27,000. Empowered Funds LLC bought a new stake in shares of Turning Point Brands during the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Turning Point Brands during the third quarter valued at approximately $28,000. Advisory Services Network LLC bought a new stake in shares of Turning Point Brands during the third quarter valued at approximately $28,000. Finally, Huntington National Bank raised its holdings in shares of Turning Point Brands by 54.9% during the third quarter. Huntington National Bank now owns 457 shares of the company's stock valued at $45,000 after buying an additional 162 shares during the last quarter. Institutional investors own 96.12% of the company's stock.

Turning Point Brands Price Performance

Shares of NYSE:TPB opened at $83.68 on Wednesday. Turning Point Brands, Inc. has a 12 month low of $65.80 and a 12 month high of $146.90. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 28.46 and a beta of 0.92. The stock's 50 day moving average price is $83.68 and its 200 day moving average price is $99.82. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.87 and a quick ratio of 4.05.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.68 by $0.08. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.The firm had revenue of $124.28 million for the quarter, compared to analysts' expectations of $115.67 million. During the same quarter in the previous year, the company earned $0.91 earnings per share. The firm's quarterly revenue was up 16.8% compared to the same quarter last year. Equities research analysts anticipate that Turning Point Brands, Inc. will post 1.43 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 19th will be given a $0.08 dividend. The ex-dividend date is Thursday, June 18th. This represents a $0.32 annualized dividend and a yield of 0.4%. Turning Point Brands's payout ratio is 10.88%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. 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. Zacks Research cut Turning Point Brands from a "hold" rating to a "strong sell" rating in a report on Monday, March 2nd. Weiss Ratings cut Turning Point Brands from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 2nd. Finally, Wall Street Zen raised Turning Point Brands from a "strong sell" rating to a "sell" rating in a report on Saturday, June 6th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $118.75.

Insider Transactions at Turning Point Brands

In other Turning Point Brands news, CAO Brian Wigginton sold 4,000 shares of Turning Point Brands 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.40% of the company's stock.

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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