Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 1.44MM shares of Turning Point Brands Inc (TPB). This represents 8.2% of the company.
In their previous filing dated February 4, 2022 they reported 0.98MM shares and 5.20% of the company, an increase in shares of 47.16% and an increase in total ownership of 3.00% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 43.78% Upside
As of February 2, 2023, the average one-year price target for Turning Point Brands is $34.68. The forecasts range from a low of $22.22 to a high of $47.25. The average price target represents an increase of 43.78% from its latest reported closing price of $24.12.
The projected annual revenue for Turning Point Brands is $430MM, an increase of 3.26%. The projected annual EPS is $2.72, an increase of 25.72%.
Fund Sentiment
There are 284 funds or institutions reporting positions in Turning Point Brands. This is a decrease of 25 owner(s) or 8.09%.
Average portfolio weight of all funds dedicated to US:TPB is 0.2174%, a decrease of 1.8150%. Total shares owned by institutions increased in the last three months by 3.58% to 18,709K shares.
What are large shareholders doing?
Standard General holds 1,635,402 shares representing 9.31% ownership of the company. In it's prior filing, the firm reported owning 1,650,402 shares, representing a decrease of 0.92%. The firm decreased its portfolio allocation in TPB by 21.42% over the last quarter.
Thrivent Financial For Lutherans holds 1,634,086 shares representing 9.30% ownership of the company. In it's prior filing, the firm reported owning 1,536,026 shares, representing an increase of 6.00%. The firm decreased its portfolio allocation in TPB by 14.23% over the last quarter.
ArrowMark Colorado Holdings holds 990,500 shares representing 5.64% ownership of the company. In it's prior filing, the firm reported owning 926,591 shares, representing an increase of 6.45%. The firm decreased its portfolio allocation in TPB by 10.34% over the last quarter.
Mangrove Partners holds 790,974 shares representing 4.50% ownership of the company. In it's prior filing, the firm reported owning 635,865 shares, representing an increase of 19.61%. The firm increased its portfolio allocation in TPB by 15.14% over the last quarter.
DG Capital Management holds 732,032 shares representing 4.17% ownership of the company. No change in the last quarter.
Turning Point Brands Declares $0.06 Dividend
Turning Point Brands said on November 2, 2022 that its board of directors declared a regular quarterly dividend of $0.06 per share ($0.24 annualized). Shareholders of record as of December 15, 2022 received the payment on January 6, 2023. Previously, the company paid $0.06 per share.
At the current share price of $24.12 / share, the stock's dividend yield is 1.00%. Looking back five years and taking a sample every week, the average dividend yield has been 0.65%, the lowest has been 0.33%, and the highest has been 1.30%. The standard deviation of yields is 0.22 (n=237).
The current dividend yield is 1.58 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.11. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.33%, demonstrating that it has increased its dividend over time.
Turning Point Brands Background Information
(This description is provided by the company.)
Turning Point Brands (NYSE: TPB) is a manufacturer, marketer and distributor of branded consumer products with active ingredients through its iconic core brands Zig-Zag® and Stoker's®, and its emerging brands within the NewGen segment. TPB's products are available in more than 210,000 retail outlets in North America.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
