Insider Selling: Turning Point Brands (NYSE:TPB) Director Sells 1,500 Shares of Stock

Turning Point Brands, Inc. (NYSE:TPB) Director Gregory H.A. Baxter sold 1,500 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $98.23, for a total transaction of $147,345.00. Following the transaction, the director owned 38,919 shares in the company, valued at $3,823,013.37. The trade was a 3.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Turning Point Brands Stock Down 0.4%

NYSE:TPB traded down $0.37 during trading hours on Friday, reaching $97.56. The company had a trading volume of 460,763 shares, compared to its average volume of 301,596. Turning Point Brands, Inc. has a twelve month low of $51.48 and a twelve month high of $110.55. The company has a quick ratio of 3.98, a current ratio of 5.56 and a debt-to-equity ratio of 0.82. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 34.35 and a beta of 0.85. The business’s 50-day simple moving average is $95.19 and its two-hundred day simple moving average is $86.67.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.46. The business had revenue of $118.98 million for the quarter, compared to analyst estimates of $111.42 million. Turning Point Brands had a return on equity of 24.44% and a net margin of 12.02%.The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 earnings per share. On average, equities analysts expect that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

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

Hedge Funds Weigh In On Turning Point Brands

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd purchased a new position in shares of Turning Point Brands in the first quarter worth about $325,000. 4D Advisors LLC purchased a new position in Turning Point Brands in the 1st quarter worth approximately $5,647,000. 1060 Capital LLC bought a new position in Turning Point Brands in the first quarter valued at $2,114,000. Counterpoint Mutual Funds LLC bought a new position in shares of Turning Point Brands during the 2nd quarter valued at about $412,000. Finally, SG Capital Management LLC purchased a new position in Turning Point Brands in the 2nd quarter worth $3,301,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TPB has been the subject of several recent research reports. Alliance Global Partners boosted their target price on shares of Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Oppenheimer lifted their price target on Turning Point Brands from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of Turning Point Brands in a report on Thursday, October 30th. Zacks Research upgraded Turning Point Brands from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. Finally, Needham & Company LLC assumed 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 given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Turning Point Brands presently has an average rating of “Buy” and an average target price of $97.00.

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.