Brittani Cushman Sells 7,500 Shares of Turning Point Brands, Inc. (NYSE:TPB) Stock

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) SVP Brittani Cushman sold 7,500 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $74.36, for a total transaction of $557,700.00. Following the sale, the senior vice president now owns 34,687 shares in the company, valued at approximately $2,579,325.32. This trade represents a 17.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Turning Point Brands Trading Up 0.5%

Shares of TPB stock traded up $0.36 during trading on Thursday, hitting $75.25. 102,727 shares of the stock traded hands, compared to its average volume of 179,341. Turning Point Brands, Inc. has a 52-week low of $30.61 and a 52-week high of $81.16. The firm has a market capitalization of $1.35 billion, a P/E ratio of 29.86 and a beta of 0.76. The firm's fifty day moving average price is $66.56 and its 200-day moving average price is $63.23. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.16. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company had revenue of $106.44 million for the quarter, compared to analyst estimates of $95.75 million. During the same quarter in the previous year, the company earned $0.63 earnings per share. The firm's quarterly revenue was up 28.2% compared to the same quarter last year. As a group, research 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. Investors of record on Friday, June 20th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 20th. Turning Point Brands's payout ratio is 13.16%.

Wall Street Analysts Forecast Growth

TPB has been the subject of a number of research reports. 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 research report on Thursday, March 6th. Alliance Global Partners began coverage on Turning Point Brands in a research report on Monday, March 3rd. They set a "buy" rating and a $80.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $76.67.

Hedge Funds Weigh In On Turning Point Brands

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

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.