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

Turning Point Brands, Inc. (NYSE:TPB) Chairman David Edward Glazek sold 30,000 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $110.26, for a total transaction of $3,307,800.00. Following the completion of the sale, the chairman owned 127,083 shares in the company, valued at $14,012,171.58. This represents a 19.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Turning Point Brands Trading Up 0.5%

Shares of TPB stock opened at $107.58 on Thursday. Turning Point Brands, Inc. has a 12-month low of $51.48 and a 12-month high of $113.31. The company has a market capitalization of $2.05 billion, a P/E ratio of 37.88 and a beta of 0.89. The firm has a 50-day moving average price of $98.67 and a 200 day moving average price of $91.57. The company has a quick ratio of 3.98, a current ratio of 5.56 and a debt-to-equity ratio of 0.82.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $111.42 million. During the same period in the prior year, the firm earned $0.68 earnings per share. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. Research analysts forecast that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

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

Hedge Funds Weigh In On Turning Point Brands

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in Turning Point Brands by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock worth $25,000 after acquiring an additional 156 shares during the period. First Horizon Corp bought a new position in shares of Turning Point Brands in the 3rd quarter worth $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Turning Point Brands during the third quarter worth $28,000. Advisory Services Network LLC acquired a new stake in shares of Turning Point Brands during the third quarter worth $28,000. Finally, Briaud Financial Planning Inc bought a new stake in Turning Point Brands in the second quarter valued at about $31,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Oppenheimer lifted their price target on Turning Point Brands from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, November 19th. Wall Street Zen upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Sunday. Industrial Alliance Securities set a $110.00 price target on shares of Turning Point Brands in a research note on Wednesday, November 5th. Zacks Research upgraded shares of Turning Point Brands from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 12th. Finally, Alliance Global Partners upped their price objective on Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Turning Point Brands has a consensus rating of “Buy” and a consensus target price 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.