Insider Selling: Turning Point Brands (NYSE:TPB) CAO Sells 4,000 Shares of Stock

Key Points

• Insider sale: Turning Point Brands CAO Brian Wigginton sold 4,000 shares at an average price of $91.67, totaling about $366,680. After the transaction, he still owned 9,230 shares, but his stake fell by 30.23%.
• Stock moved lower: TPB shares fell 3.4% to $89.77 in Wednesday trading, with volume below its average. The stock remains well below its 200-day moving average of $101.59.
• Recent fundamentals and outlook: The company beat quarterly earnings and revenue estimates, reporting $0.76 EPS on $124.28 million in revenue, and it announced a $0.08 quarterly dividend. Analysts currently have a consensus rating of Hold with an average target price of $118.75.

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) CAO Brian Wigginton sold 4,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total value of $366,680.00. Following the sale, the chief accounting officer directly owned 9,230 shares in the company, valued at $846,114.10. This trade represents a 30.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Turning Point Brands Stock Down 3.4%

Shares of Turning Point Brands stock traded down $3.19 during trading on Wednesday, reaching $89.77. The company's stock had a trading volume of 413,520 shares, compared to its average volume of 526,745. The company has a quick ratio of 4.12, a current ratio of 5.87 and a debt-to-equity ratio of 0.76. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 30.54 and a beta of 0.93. Turning Point Brands, Inc. has a 1-year low of $65.80 and a 1-year high of $146.90. The company has a 50-day simple moving average of $84.44 and a two-hundred day simple moving average of $101.59.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $124.28 million during the quarter, compared to analysts' expectations of $115.67 million. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.The business's quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS. As a group, equities analysts forecast that Turning Point Brands, Inc. will post 2.66 earnings per share 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 given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. Turning Point Brands's dividend payout ratio (DPR) is presently 10.88%.

Analyst Ratings Changes

A number of analysts have recently weighed in on TPB shares. Oppenheimer reissued an "outperform" rating and issued a $130.00 price objective on shares of Turning Point Brands in a research report on Wednesday, January 14th. Wall Street Zen cut Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, January 17th. Weiss Ratings cut Turning Point Brands from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday. Zacks Research cut Turning Point Brands from a "hold" rating to a "strong sell" rating in a research report on Monday, March 2nd. Finally, Needham & Company LLC raised Turning Point Brands from a "hold" rating to a "buy" rating and set a $125.00 price target for the company in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Turning Point Brands presently has a consensus rating of "Hold" and an average target price of $118.75.

Institutional Trading of Turning Point Brands

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

Turning Point Brands Company Profile

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.

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