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 Turning Point Brands stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $74.61, for a total transaction of $1,119,150.00. Following the completion of the sale, the director now owns 355,186 shares of the company's stock, valued at approximately $26,500,427.46. The trade was a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Turning Point Brands Stock Performance

Shares of TPB traded up $1.50 during trading hours on Friday, hitting $76.22. The stock had a trading volume of 214,637 shares, compared to its average volume of 175,214. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The firm has a 50-day moving average price of $65.54 and a 200 day moving average price of $62.98. Turning Point Brands, Inc. has a fifty-two week low of $30.61 and a fifty-two week high of $81.05. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 30.24 and a beta of 0.69.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $106.44 million during the quarter, compared to analyst estimates of $95.75 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. Turning Point Brands's quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. As a group, research analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 20th will be given a $0.075 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $0.30 dividend on an annualized basis and a yield of 0.39%. Turning Point Brands's dividend payout ratio (DPR) is 13.16%.

Institutional Investors Weigh In On Turning Point Brands

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

Wall Street Analyst Weigh In

TPB has been the topic of a number of analyst reports. Alliance Global Partners began coverage on shares of Turning Point Brands in a report on Monday, March 3rd. They issued a "buy" rating and a $80.00 target price on the stock. Wall Street Zen raised shares of Turning Point Brands from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a research report on Thursday, March 6th. Finally, Oppenheimer boosted their price objective on shares of Turning Point Brands from $65.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. 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.com, Turning Point Brands currently has an average rating of "Buy" and a consensus 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.