Turning Point Brands, Inc. (NYSE:TPB) CAO Brian Wigginton Sells 3,500 Shares

Turning Point Brands, Inc. (NYSE:TPB) CAO Brian Wigginton sold 3,500 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $75.75, for a total transaction of $265,125.00. Following the transaction, the chief accounting officer now owns 10,171 shares in the company, valued at approximately $770,453.25. This trade represents a 25.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Turning Point Brands Stock Performance

Shares of NYSE TPB opened at $75.11 on Friday. Turning Point Brands, Inc. has a 52 week low of $30.61 and a 52 week high of $81.05. The stock has a market capitalization of $1.33 billion, a PE ratio of 29.81 and a beta of 0.69. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The stock has a 50 day moving average price of $59.99 and a 200 day moving average price of $60.06.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.16. The firm had revenue of $106.44 million for the quarter, compared to analyst estimates of $95.75 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The company’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 earnings per share. Analysts predict that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

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 of this dividend is Friday, June 20th. This represents a $0.30 annualized dividend and a yield of 0.40%. Turning Point Brands’s dividend payout ratio (DPR) is currently 14.15%.

Hedge Funds Weigh In On Turning Point Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtus Fund Advisers LLC acquired a new stake in shares of Turning Point Brands in the fourth quarter valued at approximately $48,000. USA Financial Formulas acquired a new position in Turning Point Brands in the 4th quarter valued at about $73,000. Sunbelt Securities Inc. bought a new position in Turning Point Brands in the 4th quarter valued at about $96,000. Tower Research Capital LLC TRC lifted its position in 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 worth $142,000 after acquiring an additional 532 shares during the last quarter. Finally, Baird Financial Group Inc. acquired a new stake in Turning Point Brands during the fourth quarter worth approximately $201,000. Institutional investors own 96.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Oppenheimer increased their price objective on Turning Point Brands from $65.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a report on Monday, March 3rd. They set a “buy” rating and a $80.00 price objective for the company. StockNews.com downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. Finally, Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a report on Thursday, March 6th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $76.67.

Turning Point Brands Company Profile

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.