Stephen Usher Sells 1,000 Shares of Turning Point Brands (NYSE:TPB) Stock

Turning Point Brands, Inc. (NYSE:TPB) Director Stephen Usher sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $101.00, for a total value of $101,000.00. Following the completion of the transaction, the director owned 5,175 shares in the company, valued at $522,675. This represents a 16.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Turning Point Brands Stock Performance

NYSE:TPB opened at $97.56 on Friday. The stock has a market cap of $1.86 billion, a P/E ratio of 34.35 and a beta of 0.85. The company has a quick ratio of 3.98, a current ratio of 5.56 and a debt-to-equity ratio of 0.82. The business’s 50-day moving average price is $95.19 and its two-hundred day moving average price is $86.82. Turning Point Brands, Inc. has a twelve month low of $51.48 and a twelve month high of $110.55.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.46. The company had revenue of $118.98 million for the quarter, compared to analysts’ expectations of $111.42 million. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. Turning Point Brands’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 earnings per share. As a group, equities analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 19th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, December 19th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.3%. Turning Point Brands’s dividend payout ratio is presently 10.56%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TPB shares. Wall Street Zen raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Alliance Global Partners lifted their price target on Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Turning Point Brands in a report on Thursday, October 30th. Needham & Company LLC started coverage on Turning Point Brands in a report on Friday, August 1st. They set a “hold” rating on the stock. Finally, Oppenheimer boosted their target price on Turning Point Brands from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $97.00.

Hedge Funds Weigh In On Turning Point Brands

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System lifted its position in Turning Point Brands by 2.2% in the third quarter. Arizona State Retirement System now owns 5,297 shares of the company’s stock valued at $524,000 after purchasing an additional 114 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Turning Point Brands by 90.7% in the second quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock worth $25,000 after buying an additional 156 shares during the period. Martingale Asset Management L P increased its stake in shares of Turning Point Brands by 0.6% in the first quarter. Martingale Asset Management L P now owns 26,370 shares of the company’s stock worth $1,567,000 after buying an additional 162 shares during the period. Huntington National Bank raised its holdings in Turning Point Brands by 54.9% during the 3rd quarter. Huntington National Bank now owns 457 shares of the company’s stock valued at $45,000 after buying an additional 162 shares during the last quarter. Finally, Boston Partners boosted its position in Turning Point Brands by 1.5% during the 3rd quarter. Boston Partners now owns 13,712 shares of the company’s stock valued at $1,356,000 after buying an additional 206 shares during the period. 96.12% of the stock is currently owned by institutional investors.

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.