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

Turning Point Brands, Inc. (NYSE:TPB) Director Lawrence Wexler sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $74.61, for a total transaction of $1,119,150.00. Following the completion of the transaction, the director now owns 355,186 shares in the company, valued at approximately $26,500,427.46. This represents a 4.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Turning Point Brands Stock Performance

Shares of TPB opened at $76.22 on Friday. The company’s fifty day moving average is $65.54 and its 200-day moving average is $62.98. Turning Point Brands, Inc. has a 12 month low of $30.61 and a 12 month high of $81.05. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 30.24 and a beta of 0.76. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.16. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The business had revenue of $106.44 million for the quarter, compared to analyst estimates of $95.75 million. During the same period last year, the business posted $0.63 EPS. Turning Point Brands’s revenue was up 28.2% compared to the same quarter last year. Equities analysts expect 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 Tuesday, July 1st. Investors of record on Friday, June 20th will be paid a $0.075 dividend. The ex-dividend date is Friday, June 20th. This represents a $0.30 dividend on an annualized basis and a yield of 0.39%. Turning Point Brands’s payout ratio is presently 13.16%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtus Fund Advisers LLC acquired a new position in Turning Point Brands in the 4th quarter valued at $48,000. Sunbelt Securities Inc. acquired a new position in Turning Point Brands in the 4th quarter valued at $96,000. Tower Research Capital LLC TRC grew its stake in Turning Point Brands by 29.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock valued at $142,000 after buying an additional 532 shares during the last quarter. Baird Financial Group Inc. acquired a new position in Turning Point Brands in the 4th quarter valued at $201,000. Finally, Prescott General Partners LLC acquired a new position in Turning Point Brands in the 4th quarter valued at $210,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TPB has been the topic of several research reports. Oppenheimer upped their price objective on shares of Turning Point Brands from $65.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a research note on Thursday, March 6th. Alliance Global Partners began coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They set a “buy” rating and a $80.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $76.67.

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.