Copeland Capital Management LLC Has $35.34 Million Stock Holdings in Turning Point Brands, Inc. $TPB

Copeland Capital Management LLC lifted its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 99.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 407,208 shares of the company’s stock after buying an additional 203,020 shares during the period. Copeland Capital Management LLC’s holdings in Turning Point Brands were worth $35,342,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TPB. Bessemer Group Inc. raised its holdings in Turning Point Brands by 31.0% during the first quarter. Bessemer Group Inc. now owns 2,845 shares of the company’s stock worth $247,000 after acquiring an additional 674 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Turning Point Brands by 11.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,384 shares of the company’s stock valued at $294,000 after purchasing an additional 356 shares in the last quarter. Fifth Third Bancorp bought a new position in Turning Point Brands in the first quarter valued at approximately $126,000. Kestra Advisory Services LLC acquired a new position in shares of Turning Point Brands during the 1st quarter worth approximately $1,070,000. Finally, Capelight Capital Asset Management LP increased its position in shares of Turning Point Brands by 55.6% during the 1st quarter. Capelight Capital Asset Management LP now owns 28,000 shares of the company’s stock worth $2,430,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors own 96.12% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TPB shares. Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Friday, May 8th. Weiss Ratings cut shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen upgraded shares of 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 given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $118.75.

Turning Point Brands Trading Down 0.8%

TPB stock opened at $82.75 on Friday. Turning Point Brands, Inc. has a one year low of $65.80 and a one year high of $146.90. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 28.14 and a beta of 0.92. The company has a fifty day moving average price of $85.51 and a two-hundred day moving average price of $96.56. 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) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate 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 net margin of 11.53% and a return on equity of 16.54%. The company’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. Equities analysts anticipate that Turning Point Brands, Inc. will post 1.39 EPS for the current year.

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 19th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Thursday, June 18th. Turning Point Brands’s dividend payout ratio is currently 10.88%.

Insiders Place Their Bets

In other Turning Point Brands 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 transaction of $366,680.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.40% of the stock is currently owned by corporate insiders.

Turning Point Brands Company 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.