Graham Purdy Sells 21,400 Shares of Turning Point Brands, Inc. (NYSE:TPB) Stock

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) CEO Graham Purdy sold 21,400 shares of Turning Point Brands stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $74.89, for a total transaction of $1,602,646.00. Following the completion of the transaction, the chief executive officer now directly owns 227,466 shares of the company's stock, valued at $17,034,928.74. This trade represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Graham Purdy also recently made the following trade(s):

• On Wednesday, June 11th, Graham Purdy sold 30,000 shares of Turning Point Brands stock. The shares were sold at an average price of $75.03, for a total transaction of $2,250,900.00.

Turning Point Brands Price Performance

Shares of TPB traded up $0.10 during mid-day trading on Monday, hitting $75.60. The company's stock had a trading volume of 198,369 shares, compared to its average volume of 181,168. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The firm has a 50-day moving average price of $67.38 and a 200 day moving average price of $63.45. Turning Point Brands, Inc. has a fifty-two week low of $30.75 and a fifty-two week high of $81.16. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 30.00 and a beta of 0.76.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.16. The company had revenue of $106.44 million during the quarter, compared to analyst estimates of $95.75 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company's revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, research analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 is Friday, June 20th. Turning Point Brands's dividend payout ratio (DPR) is presently 13.16%.

Institutional Investors Weigh In On Turning Point Brands

Institutional investors and hedge funds have recently modified their holdings of the business. Virtus Fund Advisers LLC bought a new position in shares of Turning Point Brands in the fourth quarter valued at approximately $48,000. Sunbelt Securities Inc. acquired a new stake in shares of Turning Point Brands during the 4th quarter worth approximately $96,000. Tower Research Capital LLC TRC lifted its position in Turning Point Brands by 29.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock worth $142,000 after purchasing an additional 532 shares during the period. Baird Financial Group Inc. acquired a new stake in Turning Point Brands during the fourth quarter worth $201,000. Finally, Prescott General Partners LLC acquired a new position in Turning Point Brands in the fourth quarter worth about $210,000. Institutional investors and hedge funds own 96.12% of the company's stock.

Wall Street Analysts Forecast Growth

TPB has been the subject of several research analyst reports. Oppenheimer upped their price objective on shares of Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Wall Street Zen upgraded shares of Turning Point Brands from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They set a "buy" rating and a $80.00 price objective on the stock. Finally, Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a research report on Thursday, March 6th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Turning Point Brands currently has an average rating of "Buy" and an average 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.