Turning Point Brands Inc. (TPB) VP Sells $190,288.00 in Stock
Turning Point Brands Inc. (NYSE:TPB) VP James Michael Murray sold 13,592 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $14.00, for a total transaction of $190,288.00. Following the completion of the transaction, the vice president now owns 141 shares of the company’s stock, valued at $1,974. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Turning Point Brands Inc. (NYSE:TPB) traded down 0.14% during trading on Monday, reaching $14.48. 17,384 shares of the company were exchanged. Turning Point Brands Inc. has a one year low of $6.46 and a one year high of $16.14. The company has a market capitalization of $265.58 million and a P/E ratio of 17.55. The firm’s 50-day moving average is $13.29 and its 200 day moving average is $11.80.
Turning Point Brands (NYSE:TPB) last issued its earnings results on Thursday, November 10th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by $0.05. The business had revenue of $51 million for the quarter, compared to analysts’ expectations of $50.75 million. Turning Point Brands’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts anticipate that Turning Point Brands Inc. will post $1.25 EPS for the current fiscal year.
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Several brokerages have recently commented on TPB. FBR & Co restated a “buy” rating on shares of Turning Point Brands in a research report on Tuesday, November 22nd. Zacks Investment Research upgraded shares of Turning Point Brands from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, October 18th.
Institutional investors have recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. raised its position in shares of Turning Point Brands by 0.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 39,915 shares of the company’s stock worth $480,000 after buying an additional 172 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Turning Point Brands by 6.0% in the third quarter. Wells Fargo & Company MN now owns 27,636 shares of the company’s stock worth $332,000 after buying an additional 1,561 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Turning Point Brands during the third quarter worth $124,000. Northern Trust Corp raised its position in shares of Turning Point Brands by 382.1% in the third quarter. Northern Trust Corp now owns 58,625 shares of the company’s stock worth $705,000 after buying an additional 46,465 shares in the last quarter. Finally, Standard General L.P. raised its position in shares of Turning Point Brands by 4.5% in the third quarter. Standard General L.P. now owns 10,175,463 shares of the company’s stock worth $122,309,000 after buying an additional 442,558 shares in the last quarter. Hedge funds and other institutional investors own 68.81% of the company’s stock.
Turning Point Brands Company Profile
Turning Point Brands, Inc, formerly North Atlantic Holding Company, Inc, is a provider of Other Tobacco Products (OTP) in the United States. The Company operates through three segments: smokeless products, smoking products and NewGen products. The Smokeless products market consists of approximately four product categories, which includes loose leaf chewing tobacco, Moist Snuff, Moist Snuff Pouches and Snus.
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