Turning Point Brands, Inc. (NYSE:TPB) Director Lawrence Wexler Sells 25,000 Shares

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) Director Lawrence Wexler sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $75.94, for a total transaction of $1,898,500.00. Following the sale, the director now owns 330,186 shares in the company, valued at $25,074,324.84. This trade represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Lawrence Wexler also recently made the following trade(s):

• On Wednesday, June 4th, Lawrence Wexler sold 15,000 shares of Turning Point Brands stock. The stock was sold at an average price of $74.61, for a total transaction of $1,119,150.00.

Turning Point Brands Trading Down 1.1%

NYSE TPB traded down $0.83 on Friday, reaching $73.67. The company had a trading volume of 359,207 shares, compared to its average volume of 185,072. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 32.31 and a beta of 0.76. Turning Point Brands, Inc. has a fifty-two week low of $31.45 and a fifty-two week high of $81.25. The business has a 50 day moving average of $69.19 and a two-hundred day moving average of $63.90. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.42 and a quick ratio of 2.64.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.91 earnings per share 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 during the quarter, compared to the consensus estimate of $95.75 million. During the same period in the prior year, the business posted $0.63 earnings per share. Turning Point Brands's quarterly revenue was up 28.2% on a year-over-year basis. Analysts forecast that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

The business also recently announced 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. 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 payout ratio is 13.16%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Virtus Fund Advisers LLC bought a new stake in shares of Turning Point Brands in the fourth quarter valued at $48,000. Sunbelt Securities Inc. bought a new stake in shares of Turning Point Brands in the fourth quarter valued at $96,000. Tower Research Capital LLC TRC raised its stake in shares of Turning Point Brands by 29.0% in the fourth 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. bought a new stake in shares of Turning Point Brands in the fourth quarter valued at $201,000. Finally, Prescott General Partners LLC bought a new stake in shares of Turning Point Brands in the fourth quarter valued at $210,000. 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.