Insider Selling: Turning Point Brands, Inc. (NYSE:TPB) Director Sells $148,221.15 in Stock

Turning Point Brands, Inc. (NYSE:TPB) Director Lawrence Wexler sold 4,695 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $31.57, for a total transaction of $148,221.15. Following the transaction, the director now directly owns 367,701 shares in the company, valued at $11,608,320.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Turning Point Brands Stock Performance

Shares of TPB stock opened at $30.74 on Friday. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.90. The firm has a fifty day simple moving average of $30.97 and a two-hundred day simple moving average of $27.36. Turning Point Brands, Inc. has a 12 month low of $19.67 and a 12 month high of $34.71. The firm has a market capitalization of $541.64 million, a PE ratio of 13.54 and a beta of 0.61.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Thursday, May 2nd. The company reported $0.72 EPS for the quarter. Turning Point Brands had a net margin of 10.68% and a return on equity of 37.62%. The company had revenue of $97.06 million during the quarter.

Turning Point Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a $0.07 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.91%. Turning Point Brands’s dividend payout ratio is presently 12.33%.

Analyst Upgrades and Downgrades

TPB has been the topic of several research reports. StockNews.com upgraded shares of Turning Point Brands from a “buy” rating to a “strong-buy” rating in a report on Friday, May 17th. Benchmark reiterated a “buy” rating and issued a $45.00 price target on shares of Turning Point Brands in a report on Wednesday, June 5th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TPB. AJOVista LLC bought a new position in Turning Point Brands during the 4th quarter valued at $47,000. Lazard Asset Management LLC purchased a new stake in shares of Turning Point Brands in the first quarter valued at about $48,000. Allspring Global Investments Holdings LLC bought a new position in shares of Turning Point Brands during the first quarter valued at about $64,000. Quest Partners LLC purchased a new position in Turning Point Brands during the fourth quarter worth about $65,000. Finally, Tower Research Capital LLC TRC grew its position in Turning Point Brands by 571.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,017 shares of the company’s stock worth $106,000 after purchasing an additional 3,419 shares in the last quarter. 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.