Brian Wigginton Sells 10,800 Shares of Turning Point Brands, Inc. (NYSE:TPB) Stock

Turning Point Brands, Inc. (NYSE:TPB) CAO Brian Wigginton sold 10,800 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.67, for a total value of $817,236.00. Following the sale, the chief accounting officer now owns 10,171 shares of the company’s stock, valued at approximately $769,639.57. This trade represents a 51.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Brian Wigginton also recently made the following trade(s):

• On Thursday, May 8th, Brian Wigginton sold 3,500 shares of Turning Point Brands stock. The shares were sold at an average price of $75.75, for a total value of $265,125.00.

Turning Point Brands Price Performance

Shares of NYSE:TPB opened at $74.49 on Friday. The company has a market cap of $1.33 billion, a PE ratio of 32.67 and a beta of 0.76. Turning Point Brands, Inc. has a fifty-two week low of $31.45 and a fifty-two week high of $81.16. The firm has a 50-day simple moving average of $68.47 and a 200 day simple moving average of $63.71. The company has a quick ratio of 2.64, a current ratio of 4.42 and a debt-to-equity ratio of 1.44.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.75 by $0.16. The company had revenue of $106.44 million during the quarter, compared to analyst estimates of $95.75 million. Turning Point Brands had a return on equity of 27.70% and a net margin of 10.19%. The business’s revenue was up 28.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 earnings per share. On average, sell-side analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

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

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a report on Thursday, March 6th. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They set a “buy” rating and a $80.00 price target on the stock. Wall Street Zen upgraded Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. Finally, Oppenheimer increased their target price on Turning Point Brands from $65.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $76.67.

Institutional Investors Weigh In On Turning Point Brands

A number of hedge funds have recently added to or reduced their stakes in TPB. Vanguard Group Inc. grew its position in shares of Turning Point Brands by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 1,524,640 shares of the company’s stock worth $91,631,000 after acquiring an additional 18,440 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Turning Point Brands by 36.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company’s stock valued at $19,145,000 after purchasing an additional 84,552 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in Turning Point Brands by 1.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 243,691 shares of the company’s stock valued at $14,646,000 after purchasing an additional 2,667 shares during the period. Northern Right Capital Management L.P. grew its position in Turning Point Brands by 63.9% in the 1st quarter. Northern Right Capital Management L.P. now owns 220,178 shares of the company’s stock worth $13,087,000 after purchasing an additional 85,824 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Turning Point Brands by 40.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company’s stock valued at $12,243,000 after purchasing an additional 58,425 shares during the period. 96.12% of the stock is currently owned by institutional investors.

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.