Turning Point Brands (NYSE:TPB) Director Gregory H.A. Baxter Sells 1,500 Shares of Stock

Turning Point Brands, Inc. (NYSE:TPB) Director Gregory H.A. Baxter sold 1,500 shares of Turning Point Brands stock in a transaction on Friday, November 21st. The shares were sold at an average price of $98.23, for a total value of $147,345.00. Following the transaction, the director owned 38,919 shares in the company, valued at approximately $3,823,013.37. This trade represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Turning Point Brands Price Performance

Shares of TPB traded down $0.37 during midday trading on Friday, reaching $97.56. The stock had a trading volume of 460,763 shares, compared to its average volume of 416,380. 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 capitalization of $1.86 billion, a P/E ratio of 34.35 and a beta of 0.85. The firm’s 50 day moving average price is $95.19 and its 200-day moving average price is $86.67. Turning Point Brands, Inc. has a 52 week low of $51.48 and a 52 week high of $110.55.

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

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors 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 yield of 0.3%. Turning Point Brands’s dividend payout ratio is currently 10.56%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc lifted its stake in Turning Point Brands by 97,250.0% in the 1st quarter. IFP Advisors Inc now owns 3,894 shares of the company’s stock worth $231,000 after acquiring an additional 3,890 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Turning Point Brands in the 1st quarter valued at about $325,000. Jupiter Asset Management Ltd. purchased a new stake in shares of Turning Point Brands in the first quarter worth approximately $3,921,000. Deutsche Bank AG boosted its holdings in shares of Turning Point Brands by 232.0% during the first quarter. Deutsche Bank AG now owns 54,132 shares of the company’s stock worth $3,218,000 after purchasing an additional 37,827 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of Turning Point Brands by 3.6% during the first quarter. Swiss National Bank now owns 34,300 shares of the company’s stock worth $2,039,000 after purchasing an additional 1,200 shares during the period. Hedge funds and other institutional investors own 96.12% of the company’s stock.

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.