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

Turning Point Brands, Inc. (NYSE:TPB) Director Lawrence Wexler sold 15,000 shares of Turning Point Brands stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $99.89, for a total transaction of $1,498,350.00. Following the completion of the sale, the director owned 315,186 shares in the company, valued at $31,483,929.54. The trade was a 4.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Thursday, November 13th, Lawrence Wexler sold 10,401 shares of Turning Point Brands stock. The stock was sold at an average price of $99.03, for a total transaction of $1,030,011.03.
• On Wednesday, November 12th, Lawrence Wexler sold 21,069 shares of Turning Point Brands stock. The shares were sold at an average price of $100.02, for a total value of $2,107,321.38.

Turning Point Brands Price Performance

NYSE:TPB opened at $101.18 on Friday. Turning Point Brands, Inc. has a 52-week low of $51.48 and a 52-week high of $110.55. The company has a market cap of $1.93 billion, a P/E ratio of 35.63 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.98 and a current ratio of 5.56. The stock’s 50-day simple moving average is $95.18 and its 200 day simple moving average is $85.37.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $1.27 EPS for the quarter, beating the consensus estimate 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 return on equity of 24.44% and a net margin of 12.02%.The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 earnings per share. As a group, sell-side analysts forecast that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on TPB shares. Oppenheimer set a $110.00 price target on shares of Turning Point Brands and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Industrial Alliance Securities set a $110.00 price objective on shares of Turning Point Brands in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Turning Point Brands in a report on Thursday, October 30th. Alliance Global Partners lifted their price target on Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Needham & Company LLC started coverage on Turning Point Brands in a research report on Friday, August 1st. They set a “hold” rating on the stock. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $95.00.

Institutional Trading of Turning Point Brands

Several hedge funds and other institutional investors have recently modified their holdings of TPB. Y Intercept Hong Kong Ltd bought a new position in shares of Turning Point Brands during the first quarter worth approximately $325,000. 4D Advisors LLC acquired a new position in Turning Point Brands in the 1st quarter valued at $5,647,000. 1060 Capital LLC acquired a new position in Turning Point Brands in the 1st quarter valued at $2,114,000. Counterpoint Mutual Funds LLC bought a new position in Turning Point Brands during the 2nd quarter worth $412,000. Finally, PDT Partners LLC acquired a new stake in shares of Turning Point Brands during the first quarter worth $549,000. Institutional investors own 96.12% of the company’s stock.

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.