Brian Wigginton Sells 3,500 Shares of Turning Point Brands, Inc. (NYSE:TPB) Stock

Turning Point Brands, Inc. (NYSE:TPB) CAO Brian Wigginton sold 3,500 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $75.75, for a total value of $265,125.00. Following the completion of the transaction, the chief accounting officer now owns 10,171 shares in the company, valued at $770,453.25. This trade represents a 25.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Turning Point Brands Trading Down 0.7 %

Shares of Turning Point Brands stock opened at $75.11 on Friday. Turning Point Brands, Inc. has a 1 year low of $30.61 and a 1 year high of $81.05. The company’s fifty day simple moving average is $59.99 and its 200-day simple moving average is $60.06. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 29.81 and a beta of 0.69. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.16. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The company had revenue of $106.44 million for the quarter, compared to analyst estimates of $95.75 million. During the same period last year, the business posted $0.63 EPS. The business’s quarterly revenue was up 28.2% on a year-over-year basis. As a group, sell-side analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th will be given a $0.075 dividend. The ex-dividend date is Friday, June 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.40%. Turning Point Brands’s dividend payout ratio is currently 14.15%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TPB. Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a research report on Thursday, March 6th. StockNews.com downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Alliance Global Partners assumed coverage on Turning Point Brands in a research report on Monday, March 3rd. They set a “buy” rating and a $80.00 target price for the company. Finally, Oppenheimer lifted their price target on shares of Turning Point Brands from $65.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Turning Point Brands has an average rating of “Buy” and a consensus price target of $76.67.

Institutional Trading of Turning Point Brands

Institutional investors and hedge funds have recently modified their holdings of the company. Virtus Fund Advisers LLC acquired a new stake in Turning Point Brands during the fourth quarter worth $48,000. USA Financial Formulas acquired a new stake in shares of Turning Point Brands during the 4th quarter valued at about $73,000. Sunbelt Securities Inc. bought a new stake in Turning Point Brands in the fourth quarter valued at about $96,000. Tower Research Capital LLC TRC raised its position in Turning Point Brands by 29.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock worth $142,000 after purchasing an additional 532 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new position in Turning Point Brands during the fourth quarter worth about $201,000. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Company Profile

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.