Turning Point Brands, Inc. (NYSE:TPB) CAO Sells $817,236.00 in Stock

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) CAO Brian Wigginton sold 10,800 shares of Turning Point Brands stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.67, for a total transaction of $817,236.00. Following the completion of the sale, the chief accounting officer now owns 10,171 shares in the company, valued at approximately $769,639.57. This represents a 51.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Brian Wigginton also recently made the following trade(s):

• On Thursday, May 8th, Brian Wigginton sold 3,500 shares of Turning Point Brands stock. The stock was sold at an average price of $75.75, for a total transaction of $265,125.00.

Turning Point Brands Trading Down 1.3%

NYSE:TPB traded down $0.99 during mid-day trading on Wednesday, hitting $74.49. 220,600 shares of the stock traded hands, compared to its average volume of 183,143. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 32.67 and a beta of 0.76. Turning Point Brands, Inc. has a 52 week low of $31.34 and a 52 week high of $81.16. The firm's 50 day moving average is $68.14 and its two-hundred day moving average is $63.63. The company has a quick ratio of 2.64, a current ratio of 4.42 and a debt-to-equity ratio of 1.44.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.75 by $0.16. The company had revenue of $106.44 million for the quarter, compared to the consensus estimate of $95.75 million. Turning Point Brands had a net margin of 10.19% and a return on equity of 27.70%. The firm's revenue was up 28.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. On average, equities research analysts predict that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

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 issued 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 payout ratio is 13.16%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded 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 report on Thursday, March 6th. Oppenheimer boosted their target price on shares of Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Alliance Global Partners assumed 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. 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, the company currently has an average rating of "Buy" and a consensus price target of $76.67.

Hedge Funds Weigh In On Turning Point Brands

Hedge funds have recently added to or reduced their stakes in the company. Virtus Fund Advisers LLC purchased a new stake in Turning Point Brands in the 4th quarter valued at about $48,000. Sunbelt Securities Inc. purchased a new stake in Turning Point Brands in the 4th quarter valued at about $96,000. Tower Research Capital LLC TRC boosted its position in Turning Point Brands by 29.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock valued at $142,000 after buying an additional 532 shares during the period. Baird Financial Group Inc. purchased a new stake in Turning Point Brands in the 4th quarter valued at about $201,000. Finally, Prescott General Partners LLC purchased a new stake in Turning Point Brands in the 4th quarter valued at about $210,000. 96.12% of the stock is currently owned by institutional investors.

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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