Gregory H.A. Baxter Sells 1,500 Shares of Turning Point Brands (NYSE:TPB) Stock

Turning Point Brands, Inc. (NYSE:TPB) Director Gregory H.A. Baxter sold 1,500 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $98.23, for a total transaction of $147,345.00. Following the completion of the sale, the director owned 38,919 shares of the company’s stock, valued at approximately $3,823,013.37. This trade represents a 3.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Turning Point Brands Trading Down 0.4%

Shares of Turning Point Brands stock opened at $97.56 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.98 and a current ratio of 5.56. The company has a market capitalization of $1.86 billion, a P/E ratio of 34.35 and a beta of 0.85. Turning Point Brands, Inc. has a 1 year low of $51.48 and a 1 year high of $110.55. The company’s fifty day moving average is $95.19 and its two-hundred day moving average is $86.82.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Wednesday, November 5th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.46. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. The business had revenue of $118.98 million during the quarter, compared to the consensus estimate of $111.42 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Analysts forecast that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 19th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, December 19th. Turning Point Brands’s dividend payout ratio (DPR) is 10.56%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TPB shares. Wall Street Zen upgraded Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Needham & Company LLC initiated coverage on shares of Turning Point Brands in a research note on Friday, August 1st. They issued a “hold” rating on the stock. Zacks Research upgraded shares of Turning Point Brands from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 12th. Alliance Global Partners lifted their target price on shares of Turning Point Brands from $103.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Turning Point Brands in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $97.00.

Institutional Trading of Turning Point Brands

A number of institutional investors have recently added to or reduced their stakes in TPB. Divisadero Street Capital Management LP grew its position in Turning Point Brands by 3.2% during the third quarter. Divisadero Street Capital Management LP now owns 974,066 shares of the company’s stock worth $96,296,000 after buying an additional 30,282 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Turning Point Brands by 11.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 808,613 shares of the company’s stock worth $79,940,000 after acquiring an additional 85,716 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in shares of Turning Point Brands by 24.9% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 674,809 shares of the company’s stock worth $66,712,000 after acquiring an additional 134,401 shares during the period. Geode Capital Management LLC grew its holdings in shares of Turning Point Brands by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 509,743 shares of the company’s stock worth $38,629,000 after acquiring an additional 7,104 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Turning Point Brands by 33.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 441,772 shares of the company’s stock valued at $43,674,000 after purchasing an additional 111,590 shares in the last quarter. Hedge funds and other 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.