Copeland Capital Management LLC Trims Position in Turning Point Brands, Inc. $TPB

Copeland Capital Management LLC decreased its position in shares of Turning Point Brands, Inc. (NYSE:TPB) by 28.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 690 shares of the company’s stock after selling 277 shares during the period. Copeland Capital Management LLC’s holdings in Turning Point Brands were worth $52,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in Turning Point Brands by 53.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 13,693 shares of the company’s stock worth $819,000 after purchasing an additional 4,797 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Turning Point Brands during the first quarter worth approximately $325,000. 4D Advisors LLC purchased a new position in Turning Point Brands during the first quarter worth approximately $5,647,000. 1060 Capital LLC purchased a new position in Turning Point Brands during the first quarter worth approximately $2,114,000. Finally, Teacher Retirement System of Texas raised its stake in Turning Point Brands by 122.3% during the first quarter. Teacher Retirement System of Texas now owns 121,804 shares of the company’s stock worth $7,240,000 after purchasing an additional 67,005 shares during the period. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Zacks Research downgraded shares of Turning Point Brands from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Wall Street Zen downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Oppenheimer increased their price objective on shares of Turning Point Brands from $85.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Turning Point Brands in a research report on Saturday, September 27th. Finally, Needham & Company LLC began coverage on shares of Turning Point Brands in a research report on Friday, August 1st. They issued a “hold” rating for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.83.

Turning Point Brands Price Performance

TPB opened at $88.47 on Friday. The company has a fifty day simple moving average of $96.26 and a 200 day simple moving average of $78.03. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 37.02 and a beta of 0.74. Turning Point Brands, Inc. has a twelve month low of $40.35 and a twelve month high of $104.76. The company has a current ratio of 4.22, a quick ratio of 2.67 and a debt-to-equity ratio of 1.30.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.19. The business had revenue of $116.63 million during the quarter, compared to analyst estimates of $107.30 million. Turning Point Brands had a net margin of 10.34% and a return on equity of 25.32%. The business’s revenue was up 25.1% on a year-over-year basis. During the same period last year, the business earned $0.68 EPS. Equities research analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 19th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, September 19th. Turning Point Brands’s dividend payout ratio (DPR) is presently 12.55%.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.