Insider Selling: Turning Point Brands, Inc. (NYSE:TPB) CEO Sells $2,250,900.00 in Stock

Turning Point Brands, Inc. (NYSE:TPB) CEO Graham Purdy sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The stock was 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 of the company’s stock, valued at $17,066,773.98. This trade represents a 11.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $74.89, for a total value of $1,602,646.00.

Turning Point Brands Trading Down 0.0%

Shares of TPB opened at $75.56 on Monday. The stock has a fifty day moving average price of $67.38 and a two-hundred day moving average price of $63.44. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. Turning Point Brands, Inc. has a 52-week low of $30.75 and a 52-week high of $81.16. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 29.98 and a beta of 0.76.

Turning Point Brands (NYSE:TPB) last released its earnings results on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.75 by $0.16. The company 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%. The business’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same period last year, the firm earned $0.63 EPS. Analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

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 paid a $0.075 dividend. The ex-dividend date is Friday, June 20th. This represents a $0.30 annualized dividend and a dividend yield of 0.40%. Turning Point Brands’s dividend payout ratio (DPR) is currently 13.16%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Turning Point Brands

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtus Fund Advisers LLC acquired a new stake in shares of Turning Point Brands in the 4th quarter valued at $48,000. Sunbelt Securities Inc. acquired a new stake in shares of Turning Point Brands in the 4th quarter valued at $96,000. Tower Research Capital LLC TRC increased its stake in shares of Turning Point Brands by 29.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock valued at $142,000 after buying an additional 532 shares during the period. Baird Financial Group Inc. acquired a new stake in shares of Turning Point Brands in the 4th quarter valued at $201,000. Finally, Prescott General Partners LLC acquired a new stake in shares of Turning Point Brands in the 4th quarter valued at $210,000. 96.12% of the stock is owned by institutional investors and hedge funds.

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.