Key Points
- Director H.C. Charles Diao sold 2,000 shares on December 15 at an average price of $108.20 for proceeds of $216,400, reducing his stake by 16.94% to 9,804 shares (≈$1.06M); the sale was disclosed in an SEC filing.
- Turning Point Brands beat expectations in its most recent quarter, reporting $1.27 EPS vs. $0.81 expected and revenue of $118.98M (up 12.7% year-over-year); analysts have an average "Buy" rating and a consensus price target of $102.50, with street estimates of ~2.59 EPS for the year.
- The company declared a quarterly dividend of $0.075 (annualized $0.30), yielding about 0.3%, with an ex-dividend/record date of December 19 and payment on January 9.
Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) Director H.C. Charles Diao sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $108.20, for a total transaction of $216,400.00. Following the transaction, the director owned 9,804 shares of the company's stock, valued at approximately $1,060,792.80. The trade was a 16.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Turning Point Brands Trading Up 0.2%
Shares of NYSE TPB traded up $0.26 during midday trading on Thursday, reaching $109.40. The stock had a trading volume of 8,352 shares, compared to its average volume of 301,443. The company's 50 day moving average price is $96.86 and its 200 day moving average price is $90.43. 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, Inc. has a twelve month low of $51.48 and a twelve month high of $113.31. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 38.52 and a beta of 0.89.
Turning Point Brands (NYSE:TPB - Get Free Report) last posted 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. The company had revenue of $118.98 million during the quarter, compared to analysts' expectations of $111.42 million. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. Turning Point Brands's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 earnings per share. As a group, sell-side analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current year.
Turning Point Brands Dividend Announcement
The firm also recently disclosed 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 (DPR) is 10.56%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. Industrial Alliance Securities set a $110.00 target price on Turning Point Brands in a research report on Wednesday, November 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of Turning Point Brands in a research note on Thursday, October 30th. Zacks Research raised shares of Turning Point Brands from a "hold" rating to a "strong-buy" rating in a research note 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 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 research note on Saturday, December 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Turning Point Brands presently has an average rating of "Buy" and a consensus price target of $102.50.
Check Out Our Latest Stock Report on TPB
Hedge Funds Weigh In On Turning Point Brands
A number of large investors have recently modified their holdings of TPB. Cambria Investment Management L.P. grew its position in Turning Point Brands by 6.7% in the 3rd quarter. Cambria Investment Management L.P. now owns 8,628 shares of the company's stock valued at $853,000 after purchasing an additional 540 shares during the period. Crown Advisors Management Inc. lifted its stake in shares of Turning Point Brands by 60.0% in the third quarter. Crown Advisors Management Inc. now owns 40,000 shares of the company's stock valued at $3,954,000 after buying an additional 15,000 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Turning Point Brands in the third quarter valued at $28,000. Advisory Services Network LLC acquired a new position in shares of Turning Point Brands during the third quarter valued at about $28,000. Finally, Virtus Advisers LLC increased its position in shares of Turning Point Brands by 1,656.4% during the third quarter. Virtus Advisers LLC now owns 6,815 shares of the company's stock worth $674,000 after acquiring an additional 6,427 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors.
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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