Turning Point Brands, Inc. (NYSE:TPB) CAO Brian Wigginton Sells 10,800 Shares

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) CAO Brian Wigginton sold 10,800 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.67, for a total value of $817,236.00. Following the completion of the transaction, the chief accounting officer now owns 10,171 shares of the company's stock, valued at $769,639.57. The trade was a 51.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 value of $265,125.00.

Turning Point Brands Stock Performance

Turning Point Brands stock traded down $0.83 during trading on Friday, reaching $73.67. The company had a trading volume of 359,207 shares, compared to its average volume of 185,072. Turning Point Brands, Inc. has a 52 week low of $31.45 and a 52 week high of $81.25. The firm's 50-day simple moving average is $69.19 and its 200 day simple moving average is $63.90. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 32.31 and a beta of 0.76. The company has a current ratio of 4.42, a quick ratio of 2.64 and a debt-to-equity ratio of 1.44.

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

Turning Point Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 20th will be issued a $0.075 dividend. The ex-dividend date is Friday, June 20th. This represents a $0.30 annualized dividend and a dividend yield of 0.41%. Turning Point Brands's dividend payout ratio (DPR) is 13.16%.

Institutional Investors Weigh In On Turning Point Brands

Several large investors have recently made changes to their positions in TPB. Principal Financial Group Inc. increased its holdings in shares of Turning Point Brands by 7.1% in the fourth quarter. Principal Financial Group Inc. now owns 7,247 shares of the company's stock worth $436,000 after purchasing an additional 482 shares during the last quarter. Ieq Capital LLC bought a new stake in shares of Turning Point Brands in the fourth quarter worth about $368,000. Access Investment Management LLC increased its holdings in shares of Turning Point Brands by 0.4% in the fourth quarter. Access Investment Management LLC now owns 122,125 shares of the company's stock worth $7,340,000 after purchasing an additional 540 shares during the last quarter. Levin Capital Strategies L.P. bought a new stake in shares of Turning Point Brands in the fourth quarter worth about $212,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Turning Point Brands by 40.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company's stock worth $12,243,000 after purchasing an additional 58,425 shares during the last quarter. 96.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TPB shares. Alliance Global Partners started coverage on Turning Point Brands in a report on Monday, March 3rd. They set a "buy" rating and a $80.00 target price for the company. Wall Street Zen upgraded Turning Point Brands from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Oppenheimer increased their target price on Turning Point Brands from $65.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a report on Thursday, March 6th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target 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.