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

Turning Point Brands, Inc. (NYSE:TPB) CFO Andrew Flynn sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $97.57, for a total transaction of $195,140.00. Following the completion of the sale, the chief financial officer owned 9,443 shares in the company, valued at $921,353.51. This represents a 17.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Turning Point Brands Price Performance

TPB stock opened at $97.38 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.98 and a current ratio of 5.56. The business has a 50-day simple moving average of $120.10 and a two-hundred day simple moving average of $105.72. The company has a market capitalization of $1.86 billion, a P/E ratio of 31.11 and a beta of 0.85. Turning Point Brands, Inc. has a 52-week low of $51.48 and a 52-week high of $146.90.

Turning Point Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 20th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.3%. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, March 20th. Turning Point Brands’s dividend payout ratio is currently 10.56%.

Institutional Investors Weigh In On Turning Point Brands

Several hedge funds and other institutional investors have recently made changes to their positions in TPB. First Horizon Corp purchased a new position in Turning Point Brands during the 3rd quarter valued at $25,000. Kemnay Advisory Services Inc. bought a new stake in shares of Turning Point Brands during the fourth quarter worth $27,000. Empowered Funds LLC purchased a new stake in shares of Turning Point Brands during the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Turning Point Brands in the third quarter worth about $28,000. Finally, Advisory Services Network LLC purchased a new position in Turning Point Brands in the 3rd quarter worth about $28,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Analysts Set New Price Targets

TPB has been the topic of several recent analyst reports. Oppenheimer restated an “outperform” rating and set a $130.00 price objective on shares of Turning Point Brands in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Turning Point Brands in a report on Tuesday, December 23rd. Wall Street Zen cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. iA Financial set a $110.00 price objective on shares of Turning Point Brands in a research report on Wednesday, November 5th. Finally, Zacks Research lowered shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research note on Monday. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $116.67.

Turning Point Brands Company Profile

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.