Turning Point Brands (NYSE:TPB) CAO Sells $366,680.00 in Stock

Turning Point Brands, Inc. (NYSE:TPB) CAO Brian Wigginton sold 4,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total value of $366,680.00. Following the sale, the chief accounting officer owned 9,230 shares in the company, valued at approximately $846,114.10. The trade was a 30.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Turning Point Brands Stock Down 1.7%

TPB opened at $89.70 on Friday. The business’s fifty day moving average is $83.95 and its two-hundred day moving average is $101.51. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.12 and a current ratio of 5.87. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 30.51 and a beta of 0.93. Turning Point Brands, Inc. has a one year low of $65.80 and a one year high of $146.90.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The company had revenue of $124.28 million for the quarter, compared to the consensus estimate of $115.67 million. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.Turning Point Brands’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. Analysts anticipate that Turning Point Brands, Inc. will post 2.66 EPS for the current fiscal 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 $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, June 18th. Turning Point Brands’s payout ratio is 10.88%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TPB shares. Wall Street Zen cut Turning Point Brands from a “hold” rating to a “strong sell” rating in a report on Saturday. Weiss Ratings cut Turning Point Brands from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Zacks Research cut Turning Point Brands from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Finally, Needham & Company LLC raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $118.75.

Hedge Funds Weigh In On Turning Point Brands

A number of institutional investors have recently made changes to their positions in TPB. First Horizon Corp acquired a new position in Turning Point Brands in the third quarter valued at $25,000. Kemnay Advisory Services Inc. acquired a new position in Turning Point Brands in the fourth quarter valued at $27,000. Empowered Funds LLC acquired a new position in Turning Point Brands in the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd acquired a new position in Turning Point Brands in the third quarter valued at $28,000. Finally, Advisory Services Network LLC acquired a new position in Turning Point Brands in the third quarter valued at $28,000. 96.12% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands Company 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.