Turning Point Brands, Inc. $TPB Holdings Lifted by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its position in shares of Turning Point Brands, Inc. (NYSE:TPB) by 4.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 847,050 shares of the company’s stock after buying an additional 38,437 shares during the period. Thrivent Financial for Lutherans’ holdings in Turning Point Brands were worth $91,820,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. First Horizon Corp bought a new position in Turning Point Brands during the third quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new position in Turning Point Brands during the third quarter valued at about $28,000. Advisory Services Network LLC bought a new position in Turning Point Brands during the third quarter valued at about $28,000. Huntington National Bank boosted its stake in 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 in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Turning Point Brands by 33.4% during the fourth quarter. GAMMA Investing LLC now owns 491 shares of the company’s stock valued at $53,000 after buying an additional 123 shares in the last quarter. Institutional investors own 96.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Weiss Ratings lowered Turning Point Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Friday, May 8th. Wall Street Zen lowered Turning Point Brands from a “hold” rating to a “strong sell” rating in a research report on Saturday. Finally, Zacks Research lowered Turning Point Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $118.75.

Turning Point Brands Trading Down 1.7%

NYSE:TPB opened at $89.70 on Friday. The company has a quick ratio of 4.12, a current ratio of 5.87 and a debt-to-equity ratio of 0.76. Turning Point Brands, Inc. has a 1-year low of $65.80 and a 1-year high of $146.90. 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 stock has a fifty day simple moving average of $83.95 and a 200 day simple moving average of $101.51.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $124.28 million during the quarter, compared to analyst estimates of $115.67 million. During the same quarter last year, the company posted $0.91 EPS. Turning Point Brands’s revenue for the quarter was up 16.8% on a year-over-year basis. Sell-side analysts forecast that Turning Point Brands, Inc. will post 2.66 earnings per share for the current year.

Turning Point Brands Announces Dividend

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

Insider Activity

In related news, CAO Brian Wigginton sold 4,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total value of $366,680.00. Following the completion of the sale, the chief accounting officer directly owned 9,230 shares of the company’s stock, valued at approximately $846,114.10. This represents a 30.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Flynn sold 2,000 shares of the 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 completion of the sale, the chief financial officer directly owned 9,443 shares of the company’s stock, valued at approximately $921,353.51. This represents a 17.48% 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 corporate insiders.

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.