Insider Selling: Turning Point Brands (NYSE:TPB) Director Sells 2,000 Shares of Stock

Turning Point Brands, Inc. (NYSE:TPB) Director H.C. Charles Diao sold 2,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $108.20, for a total value of $216,400.00. Following the completion of the transaction, the director directly owned 9,804 shares in the company, valued at $1,060,792.80. This represents a 16.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Turning Point Brands Price Performance

Shares of NYSE:TPB traded down $1.58 on Wednesday, reaching $109.28. 591,907 shares of the company traded hands, compared to its average volume of 302,532. The stock has a market capitalization of $2.08 billion, a PE ratio of 38.48 and a beta of 0.89. The company has a debt-to-equity ratio of 0.82, a current ratio of 5.56 and a quick ratio of 3.98. The company’s 50 day moving average is $96.86 and its 200-day moving average is $90.43. Turning Point Brands, Inc. has a fifty-two week low of $51.48 and a fifty-two week high of $113.31.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Wednesday, November 5th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.46. Turning Point Brands had a return on equity of 24.44% and a net margin of 12.02%.The company had revenue of $118.98 million for the quarter, compared to analyst estimates of $111.42 million. During the same period in the previous year, the firm earned $0.68 earnings per share. Turning Point Brands’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 19th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, December 19th. This represents a $0.30 dividend on an annualized basis and a yield of 0.3%. Turning Point Brands’s dividend payout ratio is currently 10.56%.

Institutional Trading of Turning Point Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. First Horizon Corp acquired a new stake in Turning Point Brands during the third quarter valued at $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Turning Point Brands during the 3rd quarter worth about $28,000. Advisory Services Network LLC acquired a new stake in shares of Turning Point Brands during the 3rd quarter valued at about $28,000. GAMMA Investing LLC lifted its holdings in shares of Turning Point Brands by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock valued at $25,000 after buying an additional 156 shares during the last quarter. Finally, Briaud Financial Planning Inc bought a new stake in shares of Turning Point Brands in the 2nd quarter valued at approximately $31,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TPB has been the topic of several analyst reports. Oppenheimer lifted their target price on shares of Turning Point Brands from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Zacks Research raised shares of Turning Point Brands from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 12th. Industrial Alliance Securities set a $110.00 price objective on shares of Turning Point Brands in a research report on Wednesday, November 5th. Alliance Global Partners boosted their target price on shares of Turning Point Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Wall Street Zen cut Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Turning Point Brands currently has an average rating of “Buy” and an average target price of $102.50.

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.