Turning Point Brands, Inc. (NYSE:TPB) Director Sells $1,119,150.00 in Stock

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) Director Lawrence Wexler sold 15,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $74.61, for a total transaction of $1,119,150.00. Following the sale, the director now directly owns 355,186 shares in the company, valued at $26,500,427.46. The trade was a 4.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Turning Point Brands Stock Down 1.9%

Turning Point Brands stock traded down $1.42 during mid-day trading on Monday, reaching $74.73. 546,185 shares of the company were exchanged, compared to its average volume of 177,060. Turning Point Brands, Inc. has a 12-month low of $30.61 and a 12-month high of $81.05. The business has a fifty day moving average of $65.83 and a 200 day moving average of $63.08. The firm has a market cap of $1.34 billion, a P/E ratio of 29.65 and a beta of 0.76. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21.

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 the consensus estimate of $0.75 by $0.16. The firm had revenue of $106.44 million for the quarter, compared to the consensus estimate of $95.75 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The firm's revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. Research analysts anticipate that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

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

Analysts Set New Price Targets

TPB has been the subject of a number of research reports. Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a report on Thursday, March 6th. Alliance Global Partners began coverage on Turning Point Brands in a research note on Monday, March 3rd. They issued a "buy" rating and a $80.00 price objective for the company. Wall Street Zen upgraded Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Finally, Oppenheimer boosted their price target on Turning Point Brands from $65.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $76.67.

Institutional Investors Weigh In On Turning Point Brands

A number of large investors have recently modified their holdings of TPB. Militia Capital Partners LP acquired a new position in shares of Turning Point Brands in the 1st quarter valued at $832,000. Rhumbline Advisers increased its stake in shares of Turning Point Brands by 1.9% during the first quarter. Rhumbline Advisers now owns 24,531 shares of the company's stock worth $1,458,000 after buying an additional 464 shares during the period. 1060 Capital LLC purchased a new stake in shares of Turning Point Brands during the 1st quarter worth $2,114,000. Dynamic Technology Lab Private Ltd purchased a new stake in Turning Point Brands during the 1st quarter worth about $877,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Turning Point Brands by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company's stock valued at $606,000 after purchasing an additional 459 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company's stock.

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.