Turning Point Brands (NYSE:TPB) Director H.C. Charles Diao Sells 2,000 Shares

by · The Cerbat Gem

Turning Point Brands, Inc. (NYSE:TPB – Get Free Report) Director H.C. Charles Diao sold 2,000 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $108.20, for a total value of $216,400.00. Following the completion of the sale, the director owned 9,804 shares in the company, valued at approximately $1,060,792.80. This trade represents a 16.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Turning Point Brands Stock Performance

Shares of NYSE:TPB traded up $0.26 on Thursday, hitting $109.40. The company had a trading volume of 8,352 shares, compared to its average volume of 301,443. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 38.52 and a beta of 0.89. The stock has a 50 day moving average price of $96.86 and a 200 day moving average price of $90.43. Turning Point Brands, Inc. has a 1-year low of $51.48 and a 1-year high of $113.31. The company has a current ratio of 5.56, a quick ratio of 3.98 and a debt-to-equity ratio of 0.82.

Turning Point Brands (NYSE:TPB – Get Free Report) last posted its earnings results 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 company had revenue of $118.98 million during the quarter, compared to analysts’ expectations of $111.42 million. During the same quarter last year, the company posted $0.68 EPS. Turning Point Brands’s quarterly revenue was up 12.7% compared to the same quarter last year. Analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

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

Analyst Upgrades and Downgrades

TPB has been the subject of several research reports. Oppenheimer lifted their price target on Turning Point Brands from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Industrial Alliance Securities set a $110.00 target price on Turning Point Brands in a report on Wednesday, November 5th. Zacks Research raised shares of Turning Point Brands from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 12th. Alliance Global Partners raised their price target on shares of Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Wall Street Zen downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $102.50.

Get Our Latest Stock Analysis on TPB

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TPB. Arizona State Retirement System raised its stake in shares of Turning Point Brands by 2.2% during the third quarter. Arizona State Retirement System now owns 5,297 shares of the company’s stock valued at $524,000 after acquiring an additional 114 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Turning Point Brands by 90.7% in the second quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock worth $25,000 after purchasing an additional 156 shares during the last quarter. Martingale Asset Management L P increased its holdings in Turning Point Brands by 0.6% in the first quarter. Martingale Asset Management L P now owns 26,370 shares of the company’s stock valued at $1,567,000 after purchasing an additional 162 shares during the period. Huntington National Bank raised its position in Turning Point Brands by 54.9% during the 3rd quarter. Huntington National Bank now owns 457 shares of the company’s stock worth $45,000 after purchasing an additional 162 shares during the last quarter. Finally, Boston Partners raised its position in Turning Point Brands by 1.5% during the 3rd quarter. Boston Partners now owns 13,712 shares of the company’s stock worth $1,356,000 after purchasing an additional 206 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Company Profile

(Get Free Report)

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.

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