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

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

Turning Point Brands Stock Performance

Turning Point Brands stock opened at $74.93 on Thursday. The stock has a market cap of $1.34 billion, a P/E ratio of 29.73 and a beta of 0.76. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The stock has a 50 day moving average of $66.56 and a 200-day moving average of $63.23. Turning Point Brands, Inc. has a 52 week low of $30.61 and a 52 week high of $81.16.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.16. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The firm had revenue of $106.44 million for the quarter, compared to analyst estimates of $95.75 million. During the same period last year, the company earned $0.63 earnings per share. The firm’s revenue for the quarter was up 28.2% on a year-over-year basis. On average, analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

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

Institutional Investors Weigh In On Turning Point Brands

Several large investors have recently added to or reduced their stakes in the stock. Martingale Asset Management L P increased its position in 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. Arizona State Retirement System increased its position in Turning Point Brands by 4.1% in the first quarter. Arizona State Retirement System now owns 5,083 shares of the company’s stock worth $302,000 after buying an additional 199 shares during the period. Sei Investments Co. increased its position in 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 buying an additional 283 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 buying an additional 330 shares during the period. Finally, Rhumbline Advisers increased its position in Turning Point Brands by 1.9% in the first 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. 96.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a research note on Thursday, March 6th. Wall Street Zen upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They set a “buy” rating and a $80.00 price objective on the stock. Finally, Oppenheimer increased their target price on Turning Point Brands from $65.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Turning Point Brands presently has a consensus rating of “Buy” and an average price target of $76.67.

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.