Insider Selling: Turning Point Brands, Inc. (NYSE:TPB) CEO Sells 30,000 Shares of Stock

Turning Point Brands, Inc. (NYSE:TPB) CEO Graham Purdy sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $75.03, for a total value of $2,250,900.00. Following the transaction, the chief executive officer now owns 227,466 shares in the company, valued at approximately $17,066,773.98. This trade represents a 11.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Graham Purdy also recently made the following trade(s):

• On Thursday, June 12th, Graham Purdy sold 21,400 shares of Turning Point Brands stock. The shares were sold at an average price of $74.89, for a total value of $1,602,646.00.

Turning Point Brands Price Performance

Shares of Turning Point Brands stock opened at $75.56 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The firm’s 50-day simple moving average is $66.97 and its 200-day simple moving average is $63.33. Turning Point Brands, Inc. has a twelve month low of $30.61 and a twelve month high of $81.16. The firm has a market cap of $1.35 billion, a P/E ratio of 29.98 and a beta of 0.76.

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

Turning Point Brands Announces Dividend

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

Institutional Investors Weigh In On Turning Point Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Martingale Asset Management L P increased its holdings in Turning Point Brands by 0.6% during the 1st quarter. Martingale Asset Management L P now owns 26,370 shares of the company’s stock valued at $1,567,000 after purchasing an additional 162 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Turning Point Brands by 4.1% in the 1st quarter. Arizona State Retirement System now owns 5,083 shares of the company’s stock valued at $302,000 after buying an additional 199 shares during the period. Sei Investments Co. increased its stake in shares of Turning Point Brands by 0.4% in the 4th quarter. Sei Investments Co. now owns 78,087 shares of the company’s stock valued at $4,693,000 after buying an additional 283 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Turning Point Brands by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,739 shares of the company’s stock valued at $585,000 after buying an additional 330 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Turning Point Brands by 1.9% during the first quarter. Rhumbline Advisers now owns 24,531 shares of the company’s stock worth $1,458,000 after purchasing an additional 464 shares during the period. 96.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TPB. Wall Street Zen raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. Oppenheimer raised their price target on Turning Point Brands from $65.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a research note on Thursday, March 6th. Finally, Alliance Global Partners initiated coverage on Turning Point Brands in a research note on Monday, March 3rd. They set a “buy” rating and a $80.00 target price for the company. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $76.67.

About Turning Point Brands

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.