Turning Point Brands (NYSE:TPB) Director Lawrence Wexler Sells 10,401 Shares

Turning Point Brands, Inc. (NYSE:TPB) Director Lawrence Wexler sold 10,401 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $99.03, for a total value of $1,030,011.03. Following the sale, the director owned 280,368 shares in the company, valued at $27,764,843.04. The trade was a 3.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Lawrence Wexler also recently made the following trade(s):

• On Wednesday, November 12th, Lawrence Wexler sold 21,069 shares of Turning Point Brands stock. The stock was sold at an average price of $100.02, for a total value of $2,107,321.38.
• On Tuesday, November 11th, Lawrence Wexler sold 15,000 shares of Turning Point Brands stock. The shares were sold at an average price of $99.89, for a total transaction of $1,498,350.00.

Turning Point Brands Trading Down 2.2%

Shares of TPB opened at $97.97 on Friday. The company’s fifty day simple moving average is $95.18 and its 200-day simple moving average is $85.08. The company has a market cap of $1.87 billion, a P/E ratio of 34.50 and a beta of 0.85. The company has a current ratio of 5.56, a quick ratio of 3.98 and a debt-to-equity ratio of 0.82. Turning Point Brands, Inc. has a twelve month low of $51.48 and a twelve month high of $110.55.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Wednesday, November 5th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.46. The firm had revenue of $118.98 million during the quarter, compared to analysts’ expectations of $111.42 million. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 EPS. As a group, analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 19th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, December 19th. Turning Point Brands’s dividend payout ratio is presently 10.56%.

Institutional Trading of Turning Point Brands

Several institutional investors and hedge funds have recently made changes to their positions in TPB. Divisadero Street Capital Management LP lifted its stake in Turning Point Brands by 187.5% in the second quarter. Divisadero Street Capital Management LP now owns 943,784 shares of the company’s stock worth $71,511,000 after acquiring an additional 615,521 shares during the period. Thrivent Financial for Lutherans increased its position in Turning Point Brands by 11.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 808,613 shares of the company’s stock valued at $79,940,000 after purchasing an additional 85,716 shares during the period. Geode Capital Management LLC raised its holdings in shares of Turning Point Brands by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 509,743 shares of the company’s stock valued at $38,629,000 after purchasing an additional 7,104 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Turning Point Brands by 33.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 441,772 shares of the company’s stock valued at $43,674,000 after purchasing an additional 111,590 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Turning Point Brands by 101.9% in the 3rd quarter. First Trust Advisors LP now owns 286,658 shares of the company’s stock worth $28,339,000 after purchasing an additional 144,663 shares during the period. 96.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TPB has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Turning Point Brands in a report on Thursday, October 30th. Needham & Company LLC started coverage on Turning Point Brands in a research note on Friday, August 1st. They issued a “hold” rating on the stock. Industrial Alliance Securities set a $110.00 target price on shares of Turning Point Brands in a research note on Wednesday, November 5th. Wall Street Zen upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Zacks Research raised shares of Turning Point Brands from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $95.00.

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.