Insider Selling: Turning Point Brands, Inc. (NYSE:TPB) CAO Sells $265,125.00 in Stock

Turning Point Brands, Inc. (NYSE:TPB) CAO Brian Wigginton sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $75.75, for a total value of $265,125.00. Following the completion of the sale, the chief accounting officer now owns 10,171 shares in the company, valued at $770,453.25. The trade was a 25.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Turning Point Brands Price Performance

Shares of TPB opened at $75.11 on Monday. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The company’s fifty day simple moving average is $59.99 and its 200 day simple moving average is $60.15. Turning Point Brands, Inc. has a 1-year low of $30.61 and a 1-year high of $81.05. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 29.81 and a beta of 0.69.

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

Turning Point Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, June 20th. Turning Point Brands’s dividend payout ratio (DPR) is presently 14.15%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. StockNews.com cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Alliance Global Partners assumed coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They issued a “buy” rating and a $80.00 target price for the company. 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 increased their price objective on shares of Turning Point Brands from $65.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $76.67.

Institutional Trading of Turning Point Brands

Several institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System boosted its stake in shares of Turning Point Brands by 4.1% during the 1st quarter. Arizona State Retirement System now owns 5,083 shares of the company’s stock worth $302,000 after acquiring an additional 199 shares during the period. Sei Investments Co. lifted its holdings in Turning Point Brands by 0.4% during the 4th quarter. Sei Investments Co. now owns 78,087 shares of the company’s stock valued at $4,693,000 after purchasing an additional 283 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Turning Point Brands by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,739 shares of the company’s stock worth $585,000 after purchasing an additional 330 shares during the period. Rhumbline Advisers increased its holdings in shares of Turning Point Brands by 1.9% in the first quarter. Rhumbline Advisers now owns 24,531 shares of the company’s stock valued at $1,458,000 after purchasing an additional 464 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Turning Point Brands by 7.1% in the fourth quarter. Principal Financial Group Inc. now owns 7,247 shares of the company’s stock valued at $436,000 after purchasing an additional 482 shares during the last quarter. Institutional investors 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.