Turning Point Brands, Inc. (NYSE:TPB) Director Lawrence Wexler Sells 15,000 Shares of Stock

Turning Point Brands, Inc. (NYSE:TPB) Director Lawrence Wexler sold 15,000 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $74.61, for a total transaction of $1,119,150.00. Following the completion of the sale, the director now directly owns 355,186 shares in the company, valued at approximately $26,500,427.46. The trade was a 4.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Turning Point Brands Trading Up 2.0%

NYSE TPB opened at $76.22 on Friday. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 30.24 and a beta of 0.69. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. Turning Point Brands, Inc. has a 12 month low of $30.61 and a 12 month high of $81.05. The company’s fifty day moving average price is $65.54 and its two-hundred day moving average price is $62.98.

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

Turning Point Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 20th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $0.30 dividend on an annualized basis and a yield of 0.39%. Turning Point Brands’s payout ratio is currently 13.16%.

Wall Street Analyst Weigh In

TPB has been the topic of several recent research reports. Wall Street Zen upgraded Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. Alliance Global Partners assumed coverage on shares of Turning Point Brands in a report on Monday, March 3rd. They issued a “buy” rating and a $80.00 target price on the stock. Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a research note on Thursday, March 6th. Finally, Oppenheimer boosted their price objective 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, May 8th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Turning Point Brands has a consensus rating of “Buy” and a consensus price target of $76.67.

Hedge Funds Weigh In On Turning Point Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. Martingale Asset Management L P raised its holdings in shares of Turning Point Brands by 0.6% during the first quarter. Martingale Asset Management L P now owns 26,370 shares of the company’s stock valued at $1,567,000 after buying an additional 162 shares during the last quarter. Arizona State Retirement System increased its position in Turning Point Brands by 4.1% in the 1st quarter. Arizona State Retirement System now owns 5,083 shares of the company’s stock valued at $302,000 after acquiring an additional 199 shares during the period. Sei Investments Co. increased its position in Turning Point Brands by 0.4% in the 4th quarter. Sei Investments Co. now owns 78,087 shares of the company’s stock valued at $4,693,000 after acquiring an additional 283 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Turning Point Brands by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,739 shares of the company’s stock valued at $585,000 after acquiring an additional 330 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Turning Point Brands by 1.9% during the 1st quarter. Rhumbline Advisers now owns 24,531 shares of the company’s stock worth $1,458,000 after acquiring an additional 464 shares during the period. Institutional investors and hedge funds own 96.12% of the company’s stock.

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.