Turning Point Brands (NYSE:TPB) CFO Sells 2,000 Shares

Turning Point Brands, Inc. (NYSE:TPB) CFO Andrew Flynn sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $97.57, for a total value of $195,140.00. Following the transaction, the chief financial officer owned 9,443 shares in the company, valued at $921,353.51. The trade was a 17.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Turning Point Brands Stock Down 9.5%

Turning Point Brands stock opened at $97.38 on Thursday. The firm has a market cap of $1.86 billion, a P/E ratio of 31.11 and a beta of 0.85. The business has a fifty day moving average of $120.10 and a two-hundred day moving average of $105.72. Turning Point Brands, Inc. has a twelve month low of $51.48 and a twelve month high of $146.90. The company has a quick ratio of 3.98, a current ratio of 5.56 and a debt-to-equity ratio of 0.79.

Turning Point Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 20th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.3%. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, March 20th. Turning Point Brands’s dividend payout ratio is 10.56%.

Analyst Upgrades and Downgrades

TPB has been the topic of several research analyst reports. Wall Street Zen lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Alliance Global Partners increased their price objective on Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Turning Point Brands in a research report on Tuesday, December 23rd. Oppenheimer restated an “outperform” rating and issued a $130.00 price objective on shares of Turning Point Brands in a report on Wednesday, January 14th. Finally, Zacks Research lowered Turning Point Brands from a “hold” rating to a “strong sell” rating in a report on Monday. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Turning Point Brands presently has a consensus rating of “Hold” and a consensus target price of $116.67.

Institutional Trading of Turning Point Brands

Several institutional investors and hedge funds have recently bought and sold shares of the business. First Horizon Corp purchased a new stake in shares of Turning Point Brands during the third quarter worth approximately $25,000. Kemnay Advisory Services Inc. acquired a new stake in Turning Point Brands in the fourth quarter valued at about $27,000. Empowered Funds LLC purchased a new stake in Turning Point Brands in the 4th quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new position in Turning Point Brands during the 3rd quarter worth approximately $28,000. Finally, Advisory Services Network LLC purchased a new position in shares of Turning Point Brands during the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

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.