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

Turning Point Brands, Inc. (NYSE:TPB) SVP Brittani Cushman sold 7,500 shares of the business’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $74.36, for a total transaction of $557,700.00. Following the completion of the sale, the senior vice president now owns 34,687 shares in the company, valued at approximately $2,579,325.32. The trade was a 17.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Turning Point Brands Trading Down 0.0%

Shares of NYSE TPB opened at $75.56 on Friday. The business’s 50 day moving average is $66.97 and its two-hundred day moving average is $63.33. 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, Inc. has a 1-year low of $30.61 and a 1-year high of $81.16. The stock has a market capitalization of $1.35 billion, a P/E ratio of 29.98 and a beta of 0.76.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.16. The firm had revenue of $106.44 million during the quarter, compared to analysts’ expectations of $95.75 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. As a group, research analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 20th. Turning Point Brands’s dividend payout ratio (DPR) is 13.16%.

Institutional Investors Weigh In On Turning Point Brands

Several hedge funds and other institutional investors have recently made changes to their positions in TPB. Martingale Asset Management L P grew its position in Turning Point Brands by 0.6% in the 1st quarter. Martingale Asset Management L P now owns 26,370 shares of the company’s stock valued at $1,567,000 after acquiring an additional 162 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Turning Point Brands by 4.1% during the first quarter. Arizona State Retirement System now owns 5,083 shares of the company’s stock valued at $302,000 after purchasing an additional 199 shares during the period. Sei Investments Co. grew its holdings in shares of Turning Point Brands by 0.4% in the fourth quarter. Sei Investments Co. now owns 78,087 shares of the company’s stock worth $4,693,000 after purchasing an additional 283 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Turning Point Brands by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,739 shares of the company’s stock worth $585,000 after purchasing an additional 330 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Turning Point Brands by 1.9% in the 1st quarter. Rhumbline Advisers now owns 24,531 shares of the company’s stock worth $1,458,000 after buying an additional 464 shares during the period. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Analyst Ratings Changes

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