Turning Point Brands (NYSE:TPB) Director Lawrence Wexler Sells 15,000 Shares of Stock

Turning Point Brands, Inc. (NYSE:TPB) Director Lawrence Wexler sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $99.89, for a total transaction of $1,498,350.00. Following the transaction, the director owned 315,186 shares of the company’s stock, valued at $31,483,929.54. This trade represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Lawrence Wexler also recently made the following trade(s):

• On Thursday, November 13th, Lawrence Wexler sold 10,401 shares of Turning Point Brands stock. The shares were sold at an average price of $99.03, for a total value of $1,030,011.03.
• On Wednesday, November 12th, Lawrence Wexler sold 21,069 shares of Turning Point Brands stock. The stock was sold at an average price of $100.02, for a total value of $2,107,321.38.

Turning Point Brands Stock Performance

Shares of NYSE TPB opened at $97.97 on Friday. The company has a 50-day simple moving average of $95.18 and a 200-day simple moving average of $85.08. 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 has a market cap of $1.87 billion, a PE ratio of 34.50 and a beta of 0.85. Turning Point Brands, Inc. has a 12 month low of $51.48 and a 12 month high of $110.55.

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

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders 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 annualized dividend and a dividend yield of 0.3%. Turning Point Brands’s payout ratio is currently 10.56%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TPB. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Turning Point Brands in a research report on Thursday, October 30th. Oppenheimer set a $110.00 price objective on Turning Point Brands and gave the stock an “outperform” rating in a report on Wednesday, November 5th. Zacks Research upgraded Turning Point Brands from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Industrial Alliance Securities set a $110.00 price target on shares of Turning Point Brands in a report on Wednesday, November 5th. Finally, Alliance Global Partners lifted their price target on shares of Turning Point Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $95.00.

Hedge Funds Weigh In On Turning Point Brands

Several hedge funds and other institutional investors have recently bought and sold shares of TPB. Y Intercept Hong Kong Ltd acquired a new stake in shares of Turning Point Brands during the first quarter valued at about $325,000. 4D Advisors LLC acquired a new stake in Turning Point Brands during the 1st quarter valued at approximately $5,647,000. 1060 Capital LLC purchased a new stake in Turning Point Brands during the 1st quarter worth approximately $2,114,000. Counterpoint Mutual Funds LLC purchased a new stake in Turning Point Brands during the 2nd quarter worth approximately $412,000. Finally, PDT Partners LLC acquired a new position in shares of Turning Point Brands in the 1st quarter valued at approximately $549,000. 96.12% of the stock is owned by institutional investors and hedge funds.

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.