H.C. Charles Diao Acquires 3,303 Shares of Turning Point Brands, Inc. (TPB) Stock
Turning Point Brands, Inc. (NYSE:TPB) Director H.C. Charles Diao purchased 3,303 shares of the business’s stock in a transaction on Friday, August 18th. The shares were bought at an average price of $16.49 per share, for a total transaction of $54,466.47. Following the acquisition, the director now owns 2,003 shares in the company, valued at $33,029.47. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Turning Point Brands, Inc. (TPB) opened at 16.90 on Wednesday. Turning Point Brands, Inc. has a one year low of $11.50 and a one year high of $18.05. The firm’s 50-day moving average price is $15.40 and its 200 day moving average price is $15.21. The stock has a market cap of $321.59 million, a P/E ratio of 10.62 and a beta of 0.51.
Turning Point Brands (NYSE:TPB) last released its earnings results on Thursday, August 10th. The company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Turning Point Brands had a net margin of 13.62% and a return on equity of 114.77%. The business had revenue of $72.10 million during the quarter, compared to analysts’ expectations of $67.35 million. During the same quarter last year, the company earned $0.05 earnings per share. The firm’s revenue was up 39.7% on a year-over-year basis. Equities research analysts expect that Turning Point Brands, Inc. will post $1.28 EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the stock. Argent Capital Management LLC bought a new stake in Turning Point Brands during the second quarter valued at $2,552,000. State Street Corp boosted its stake in Turning Point Brands by 5.8% in the second quarter. State Street Corp now owns 84,823 shares of the company’s stock valued at $1,301,000 after buying an additional 4,663 shares during the last quarter. Northern Right Capital Management L.P. boosted its stake in Turning Point Brands by 13.3% in the second quarter. Northern Right Capital Management L.P. now owns 365,308 shares of the company’s stock valued at $5,604,000 after buying an additional 42,800 shares during the last quarter. Vanguard Group Inc. boosted its stake in Turning Point Brands by 1.1% in the second quarter. Vanguard Group Inc. now owns 255,127 shares of the company’s stock valued at $3,914,000 after buying an additional 2,834 shares during the last quarter. Finally, D.A. Davidson & CO. bought a new stake in Turning Point Brands during the second quarter valued at $413,000. Institutional investors and hedge funds own 68.18% of the company’s stock.
TPB has been the topic of several recent research reports. FBR & Co restated a “buy” rating and set a $17.00 price target on shares of Turning Point Brands in a report on Friday, May 12th. Cowen and Company restated a “buy” rating and set a $19.00 price target on shares of Turning Point Brands in a report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Turning Point Brands from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th.
Turning Point Brands Company Profile
Turning Point Brands, Inc is an independent provider of Other Tobacco Products (OTP) in the United States. The Company operates in three segments smokeless products, smoking products and NewGen products. The smokeless products segment manufactures and markets moist snuff; and contracts for and markets chewing tobacco products.
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