Turning Point Brands (NYSE:TPB) CFO Andrew Flynn Sells 2,000 Shares of Stock

Turning Point Brands, Inc. (NYSE:TPB) CFO Andrew Flynn sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $97.57, for a total transaction of $195,140.00. Following the transaction, the chief financial officer owned 9,443 shares in the company, valued at approximately $921,353.51. The trade was a 17.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Turning Point Brands Stock Down 0.0%

TPB stock traded down $0.02 during mid-day trading on Friday, hitting $92.38. 148,831 shares of the company were exchanged, compared to its average volume of 353,370. The firm has a market cap of $1.77 billion, a P/E ratio of 29.51 and a beta of 0.85. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.98 and a current ratio of 5.56. Turning Point Brands, Inc. has a 1-year low of $51.48 and a 1-year high of $146.90. The firm’s 50 day simple moving average is $119.79 and its 200 day simple moving average is $105.62.

Turning Point Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 20th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.3%. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, March 20th. Turning Point Brands’s dividend payout ratio (DPR) is 9.58%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TPB shares. Wall Street Zen lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Oppenheimer reissued an “outperform” rating and set a $130.00 price objective on shares of Turning Point Brands in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Turning Point Brands in a research report on Tuesday, December 23rd. Finally, Zacks Research cut Turning Point Brands from a “hold” rating to a “strong sell” rating in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Turning Point Brands presently has a consensus rating of “Hold” and a consensus price target of $116.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd boosted its holdings in shares of Turning Point Brands by 16.3% during the 4th quarter. Covestor Ltd now owns 663 shares of the company’s stock worth $72,000 after buying an additional 93 shares during the period. Osaic Holdings Inc. lifted its position in Turning Point Brands by 5.5% during the fourth quarter. Osaic Holdings Inc. now owns 1,888 shares of the company’s stock worth $205,000 after acquiring an additional 98 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Turning Point Brands by 2.2% during the third quarter. Arizona State Retirement System now owns 5,297 shares of the company’s stock worth $524,000 after acquiring an additional 114 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Turning Point Brands by 33.4% during the fourth quarter. GAMMA Investing LLC now owns 491 shares of the company’s stock worth $53,000 after acquiring an additional 123 shares during the period. Finally, CWM LLC grew its position in shares of Turning Point Brands by 6.2% in the fourth quarter. CWM LLC now owns 2,706 shares of the company’s stock valued at $293,000 after purchasing an additional 157 shares during the last quarter. Institutional investors own 96.12% of the company’s stock.

About Turning Point Brands

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.