Turning Point Brands, Inc. (NYSE:TPB) Director Sells $1,898,500.00 in Stock

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) Director Lawrence Wexler sold 25,000 shares of the business'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 value of $1,898,500.00. Following the completion of the transaction, the director now directly owns 330,186 shares in the company, valued at $25,074,324.84. The trade was a 7.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 value of $1,119,150.00.

Turning Point Brands Stock Down 1.3%

Shares of TPB traded down $0.99 on Wednesday, reaching $74.49. The company's stock had a trading volume of 220,600 shares, compared to its average volume of 183,143. The company has a current ratio of 4.42, a quick ratio of 2.64 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $1.33 billion, a PE ratio of 32.67 and a beta of 0.76. Turning Point Brands, Inc. has a twelve month low of $31.34 and a twelve month high of $81.16. The firm has a fifty day moving average of $68.14 and a 200-day moving average of $63.63.

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

Turning Point Brands Dividend Announcement

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Northern Right Capital Management L.P. boosted its holdings in Turning Point Brands by 356.6% in the 4th quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company's stock valued at $8,075,000 after purchasing an additional 104,931 shares during the period. 4D Advisors LLC bought a new position in Turning Point Brands in the 1st quarter valued at $5,647,000. Arrowstreet Capital Limited Partnership boosted its holdings in Turning Point Brands by 36.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company's stock valued at $19,145,000 after purchasing an additional 84,552 shares during the period. Teacher Retirement System of Texas boosted its holdings in Turning Point Brands by 122.3% in the 1st quarter. Teacher Retirement System of Texas now owns 121,804 shares of the company's stock valued at $7,240,000 after purchasing an additional 67,005 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Turning Point Brands during the 1st quarter valued at $3,921,000. 96.12% of the stock is 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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