Lawrence Wexler Sells 25,000 Shares of Turning Point Brands, Inc. (NYSE:TPB) Stock

Turning Point Brands, Inc. (NYSE:TPB) Director Lawrence Wexler sold 25,000 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $75.94, for a total transaction of $1,898,500.00. Following the sale, the director now owns 330,186 shares of the company’s stock, valued at approximately $25,074,324.84. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Lawrence Wexler also recently made the following trade(s):

• On Wednesday, June 4th, Lawrence Wexler sold 15,000 shares of Turning Point Brands stock. The shares were sold at an average price of $74.61, for a total value of $1,119,150.00.

Turning Point Brands Price Performance

Shares of TPB stock opened at $74.49 on Friday. The business’s fifty day moving average is $68.47 and its 200 day moving average is $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. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 32.67 and a beta of 0.76. Turning Point Brands, Inc. has a twelve month low of $31.45 and a twelve month high of $81.16.

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

Turning Point Brands Announces Dividend

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

Hedge Funds Weigh In On Turning Point Brands

Large investors have recently made changes to their positions in the business. Virtus Fund Advisers LLC purchased a new stake in shares of Turning Point Brands in the 4th quarter worth approximately $48,000. Sunbelt Securities Inc. purchased a new stake in shares of Turning Point Brands in the fourth quarter worth $96,000. Tower Research Capital LLC TRC increased its holdings in shares of Turning Point Brands by 29.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock valued at $142,000 after acquiring an additional 532 shares in the last quarter. Baird Financial Group Inc. purchased a new position in shares of Turning Point Brands in the 4th quarter worth about $201,000. Finally, Prescott General Partners LLC bought a new position in Turning Point Brands in the 4th quarter worth about $210,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Alliance Global Partners began coverage on Turning Point Brands in a research report on Monday, March 3rd. They issued a “buy” rating and a $80.00 price objective on the stock. Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a research report on Thursday, March 6th. Oppenheimer raised their target price on shares of Turning Point Brands from $65.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Turning Point Brands currently has a consensus rating of “Buy” and an average 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.