Turning Point Brands, Inc. $TPB Shares Sold by Crawford Investment Counsel Inc.

Crawford Investment Counsel Inc. decreased its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 14.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 102,107 shares of the company’s stock after selling 16,633 shares during the quarter. Crawford Investment Counsel Inc.’s holdings in Turning Point Brands were worth $11,068,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new position in Turning Point Brands in the fourth quarter worth approximately $27,000. Empowered Funds LLC acquired a new position in Turning Point Brands in the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new position in Turning Point Brands in the third quarter worth approximately $28,000. Advisory Services Network LLC purchased a new position in Turning Point Brands during the 3rd quarter worth approximately $28,000. Finally, Huntington National Bank grew its position in Turning Point Brands by 54.9% during the 3rd quarter. Huntington National Bank now owns 457 shares of the company’s stock worth $45,000 after purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Trading Up 2.0%

NYSE TPB opened at $83.68 on Wednesday. Turning Point Brands, Inc. has a twelve month low of $65.80 and a twelve month high of $146.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.05 and a current ratio of 5.87. 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 firm’s 50 day moving average price is $83.68 and its two-hundred day moving average price is $99.82.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.68 by $0.08. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The business had revenue of $124.28 million for the quarter, compared to analysts’ expectations of $115.67 million. During the same period in the previous year, the company posted $0.91 EPS. Turning Point Brands’s revenue was up 16.8% on a year-over-year basis. Equities analysts anticipate that Turning Point Brands, Inc. will post 1.43 EPS for the current year.

Turning Point Brands Dividend Announcement

The business 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 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, June 18th. Turning Point Brands’s payout ratio is currently 10.88%.

Insider Activity at Turning Point Brands

In other news, CAO Brian Wigginton sold 4,000 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer directly owned 9,230 shares in the company, valued at $846,114.10. The trade was a 30.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TPB. Weiss Ratings cut shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Needham & Company LLC upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Friday, May 8th. Wall Street Zen upgraded shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Zacks Research cut shares of 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 issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $118.75.

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.