Turning Point Brands (NYSE:TPB) Chairman David Edward Glazek Sells 30,000 Shares

Turning Point Brands, Inc. (NYSE:TPB) Chairman David Edward Glazek sold 30,000 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $110.26, for a total value of $3,307,800.00. Following the sale, the chairman directly owned 127,083 shares in the company, valued at approximately $14,012,171.58. This trade represents a 19.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Turning Point Brands Price Performance

Shares of NYSE TPB traded up $1.14 during mid-day trading on Tuesday, reaching $106.90. The company had a trading volume of 613,272 shares, compared to its average volume of 333,906. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 37.64 and a beta of 0.89. The business’s 50-day simple moving average is $98.35 and its 200 day simple moving average is $91.46. Turning Point Brands, Inc. has a one year low of $51.48 and a one year high of $113.31. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.98 and a current ratio of 5.56.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data 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 net margin of 12.02% and a return on equity of 24.44%. The firm had revenue of $118.98 million for the quarter, compared to the consensus estimate of $111.42 million. During the same period in the prior year, the company posted $0.68 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, research analysts predict that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 19th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, December 19th. Turning Point Brands’s dividend payout ratio (DPR) is 10.56%.

Hedge Funds Weigh In On Turning Point Brands

A number of institutional investors and hedge funds have recently bought and sold shares of the company. First Horizon Corp bought a new stake in shares of Turning Point Brands in the 3rd quarter valued at $25,000. Caitong International Asset Management Co. Ltd bought a new position in Turning Point Brands during the third quarter worth $28,000. Advisory Services Network LLC acquired a new position in Turning Point Brands in the third quarter valued at $28,000. GAMMA Investing LLC boosted its position in Turning Point Brands by 90.7% during the second quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock valued at $25,000 after acquiring an additional 156 shares during the last quarter. Finally, Briaud Financial Planning Inc bought a new stake in Turning Point Brands during the second quarter valued at $31,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Alliance Global Partners raised their target price on Turning Point Brands from $103.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Industrial Alliance Securities set a $110.00 price objective on Turning Point Brands in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Turning Point Brands in a research report on Wednesday, December 17th. Wall Street Zen raised Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Zacks Research upgraded shares of Turning Point Brands from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $102.50.

About Turning Point Brands

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.