Stephen Usher Sells 600 Shares of Turning Point Brands, Inc. (NYSE:TPB) Stock

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) Director Stephen Usher sold 600 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $75.25, for a total transaction of $45,150.00. Following the transaction, the director now directly owns 6,175 shares of the company's stock, valued at $464,668.75. This represents a 8.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Turning Point Brands Price Performance

Turning Point Brands stock traded down $0.11 during trading hours on Thursday, hitting $74.85. 239,134 shares of the stock were exchanged, compared to its average volume of 174,502. 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 stock has a market capitalization of $1.34 billion, a P/E ratio of 29.70 and a beta of 0.69. Turning Point Brands, Inc. has a 12 month low of $30.61 and a 12 month high of $81.05. The business's 50-day moving average is $65.22 and its two-hundred day moving average is $62.87.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.16. The firm had revenue of $106.44 million for the quarter, compared to analysts' expectations of $95.75 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The company's quarterly revenue was up 28.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. Equities research analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, June 20th. This represents a $0.30 annualized dividend and a yield of 0.40%. Turning Point Brands's dividend payout ratio is 13.16%.

Institutional Trading of Turning Point Brands

Several large investors have recently added to or reduced their stakes in the company. Entropy Technologies LP bought a new stake in shares of Turning Point Brands during the fourth quarter valued at approximately $234,000. Ameriprise Financial Inc. bought a new stake in shares of Turning Point Brands during the fourth quarter valued at approximately $957,000. Northern Trust Corp grew its stake in shares of Turning Point Brands by 7.9% during the fourth quarter. Northern Trust Corp now owns 160,386 shares of the company's stock valued at $9,639,000 after purchasing an additional 11,808 shares during the last quarter. ProShare Advisors LLC bought a new stake in shares of Turning Point Brands during the fourth quarter valued at approximately $290,000. Finally, Legato Capital Management LLC bought a new stake in shares of Turning Point Brands during the fourth quarter valued at approximately $278,000. 96.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TPB has been the subject of several recent research reports. Wall Street Zen raised shares of Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a research report on Thursday, March 6th. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They issued a "buy" rating and a $80.00 price target for the company. Finally, Oppenheimer increased their price target on shares of Turning Point Brands from $65.00 to $85.00 and gave the stock 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 issued a strong buy rating to the stock. According to MarketBeat.com, Turning Point Brands presently has an average rating of "Buy" and an average target price of $76.67.

About Turning Point Brands

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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