Turning Point Brands, Inc. (NYSE:TPB) SVP Sells $557,700.00 in Stock

Turning Point Brands, Inc. (NYSE:TPB) SVP Brittani Cushman sold 7,500 shares of Turning Point Brands stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $74.36, for a total value of $557,700.00. Following the completion of the sale, the senior vice president now owns 34,687 shares of the company’s stock, valued at $2,579,325.32. The trade was a 17.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Turning Point Brands Stock Down 0.0%

TPB stock opened at $75.56 on Friday. Turning Point Brands, Inc. has a twelve month low of $30.61 and a twelve month high of $81.16. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The stock has a market cap of $1.35 billion, a P/E ratio of 29.98 and a beta of 0.76. The business’s 50-day moving average price is $66.97 and its 200-day moving average price is $63.33.

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

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 20th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, June 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.40%. Turning Point Brands’s payout ratio is currently 13.16%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Militia Capital Partners LP lifted its position in shares of Turning Point Brands by 100.0% during the 1st quarter. Militia Capital Partners LP now owns 14,000 shares of the company’s stock valued at $832,000 after buying an additional 7,000 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Turning Point Brands by 1.9% during the 1st quarter. Rhumbline Advisers now owns 24,531 shares of the company’s stock valued at $1,458,000 after buying an additional 464 shares in the last quarter. 1060 Capital LLC purchased a new position in Turning Point Brands in the 1st quarter worth approximately $2,114,000. Dynamic Technology Lab Private Ltd bought a new position in Turning Point Brands in the 1st quarter worth approximately $877,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Turning Point Brands by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock valued at $606,000 after buying an additional 459 shares in the last quarter. 96.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TPB shares. Wall Street Zen upgraded Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. Alliance Global Partners started coverage on Turning Point Brands in a research note on Monday, March 3rd. They set a “buy” rating and a $80.00 price target for the company. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a research note on Thursday, March 6th. Finally, Oppenheimer boosted their price target on Turning Point Brands from $65.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average 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.