Turning Point Brands (NYSE:TPB) CAO Brian Wigginton Sells 4,000 Shares

Turning Point Brands, Inc. (NYSE:TPB) CAO Brian Wigginton sold 4,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total value of $366,680.00. Following the transaction, the chief accounting officer owned 9,230 shares of the company’s stock, valued at $846,114.10. The trade was a 30.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Turning Point Brands Stock Down 3.4%

Shares of NYSE TPB opened at $89.77 on Thursday. Turning Point Brands, Inc. has a 52-week low of $65.80 and a 52-week high of $146.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.12 and a current ratio of 5.87. The stock has a market cap of $1.74 billion, a P/E ratio of 30.54 and a beta of 0.93. The firm has a 50 day moving average price of $84.44 and a 200 day moving average price of $101.59.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The company had revenue of $124.28 million for the quarter, compared to analysts’ expectations of $115.67 million. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. Analysts expect that Turning Point Brands, Inc. will post 2.66 EPS for the current year.

Turning Point Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 19th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, June 18th. Turning Point Brands’s payout ratio is 10.88%.

Hedge Funds Weigh In On Turning Point Brands

Several hedge funds have recently modified their holdings of the stock. First Horizon Corp bought a new stake in Turning Point Brands during the third quarter worth about $25,000. Kemnay Advisory Services Inc. bought a new position in Turning Point Brands in the fourth quarter valued at approximately $27,000. Empowered Funds LLC acquired a new position in shares of Turning Point Brands during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Turning Point Brands during the 3rd quarter worth approximately $28,000. Finally, Advisory Services Network LLC bought a new stake in shares of Turning Point Brands during the 3rd quarter worth approximately $28,000. Institutional investors own 96.12% of the company’s stock.

Analyst Ratings Changes

TPB has been the subject of several research analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $130.00 price target on shares of Turning Point Brands in a report on Wednesday, January 14th. Weiss Ratings lowered shares of Turning Point Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Zacks Research downgraded Turning Point Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Needham & Company LLC raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Friday, May 8th. Finally, Wall Street Zen lowered Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $118.75.

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.