Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) CEO Graham Purdy sold 30,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $75.03, for a total value of $2,250,900.00. Following the completion of the sale, the chief executive officer now directly owns 227,466 shares of the company's stock, valued at approximately $17,066,773.98. This trade represents a 11.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Graham Purdy also recently made the following trade(s):
- On Thursday, June 12th, Graham Purdy sold 21,400 shares of Turning Point Brands stock. The stock was sold at an average price of $74.89, for a total transaction of $1,602,646.00.
Turning Point Brands Stock Performance
Shares of TPB stock traded up $0.10 on Monday, hitting $75.60. 198,369 shares of the stock were exchanged, compared to its average volume of 181,168. The firm has a market capitalization of $1.35 billion, a PE ratio of 30.00 and a beta of 0.76. Turning Point Brands, Inc. has a one year low of $30.75 and a one year high of $81.16. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The firm's 50 day moving average is $67.38 and its two-hundred day moving average is $63.45.
Turning Point Brands (NYSE:TPB - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.75 by $0.16. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The company had revenue of $106.44 million during the quarter, compared to the consensus estimate of $95.75 million. During the same period last year, the firm earned $0.63 EPS. Turning Point Brands's revenue for the quarter was up 28.2% on a year-over-year basis. Sell-side analysts expect that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.
Turning Point Brands Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 20th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, June 20th. Turning Point Brands's dividend payout ratio is presently 13.16%.
Wall Street Analyst Weigh In
TPB has been the subject of several recent analyst reports. Alliance Global Partners began coverage on Turning Point Brands in a report on Monday, March 3rd. They issued a "buy" rating and a $80.00 target price for the company. Oppenheimer upped their price objective on Turning Point Brands from $65.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a research note on Thursday, March 6th. Finally, Wall Street Zen upgraded shares of Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Turning Point Brands presently has an average rating of "Buy" and a consensus price target of $76.67.
Get Our Latest Report on TPB
Institutional Investors Weigh In On Turning Point Brands
A number of institutional investors and hedge funds have recently modified their holdings of the company. Virtus Fund Advisers LLC purchased a new stake in Turning Point Brands in the 4th quarter worth approximately $48,000. Sunbelt Securities Inc. bought a new position in shares of Turning Point Brands in the fourth quarter worth $96,000. Tower Research Capital LLC TRC raised its position in shares of 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 buying an additional 532 shares in the last quarter. Baird Financial Group Inc. bought a new stake in Turning Point Brands during the fourth quarter valued at $201,000. Finally, Prescott General Partners LLC purchased a new position in Turning Point Brands during the fourth quarter worth about $210,000. 96.12% of the stock is owned by hedge funds and other institutional investors.
About Turning Point Brands
(
Get Free Report)
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.
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