Key Points
- Turning Point Brands Chairman David Edward Glazek sold 30,000 shares on December 19 at an average price of $110.26 for total proceeds of $3,307,800, leaving him with 127,083 shares — a 19.10% reduction in his holdings (disclosed in an SEC filing).
- The company reported a strong quarter with $1.27 EPS versus $0.81 expected and revenue of $118.98 million, up 12.7% year-over-year, alongside a net margin of 12.02% and ROE of 24.44%.
- Analysts are generally bullish (consensus rating: Buy, consensus target $102.50; Oppenheimer raised its target to $120) and the company declared a quarterly dividend of $0.075 (annualized $0.30, yield 0.3%) with an ex-dividend date of December 19.
Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) Chairman David Edward Glazek sold 30,000 shares of the company's stock in a transaction dated 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 owned 127,083 shares of the company's stock, valued at $14,012,171.58. This represents a 19.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Turning Point Brands Stock Up 1.1%
Shares of NYSE:TPB opened at $106.90 on Wednesday. The stock has a 50-day simple moving average of $98.35 and a 200-day simple moving average of $91.46. The stock has a market capitalization of $2.04 billion, a P/E ratio of 37.64 and a beta of 0.89. Turning Point Brands, Inc. has a 1 year low of $51.48 and a 1 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $1.27 earnings per share for the quarter, beating 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 analysts' expectations of $111.42 million. During the same period in the previous year, the company posted $0.68 earnings per share. Turning Point Brands's revenue was up 12.7% compared to the same quarter last year. Equities analysts forecast that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.
Turning Point Brands Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 19th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, December 19th. Turning Point Brands's dividend payout ratio is currently 10.56%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on TPB shares. Industrial Alliance Securities set a $110.00 target price on Turning Point Brands in a research report on Wednesday, November 5th. Alliance Global Partners upped their price target on Turning Point Brands from $103.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, November 5th. Oppenheimer increased their price objective on shares of Turning Point Brands from $110.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, November 19th. 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. Finally, Wall Street Zen raised shares of Turning Point Brands from a "hold" rating to a "buy" rating in a report on Sunday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Turning Point Brands currently has a consensus 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
Several institutional investors and hedge funds have recently made changes to their positions in TPB. Cambria Investment Management L.P. increased its stake in shares of Turning Point Brands by 6.7% in the third quarter. Cambria Investment Management L.P. now owns 8,628 shares of the company's stock worth $853,000 after buying an additional 540 shares during the last quarter. Crown Advisors Management Inc. increased its position in shares of Turning Point Brands by 60.0% in the 3rd quarter. Crown Advisors Management Inc. now owns 40,000 shares of the company's stock worth $3,954,000 after purchasing an additional 15,000 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Turning Point Brands in the 3rd quarter worth about $28,000. Advisory Services Network LLC acquired a new stake in shares of Turning Point Brands in the 3rd quarter valued at about $28,000. Finally, Virtus Advisers LLC lifted 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 purchasing an additional 6,427 shares during the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.
Turning Point Brands Company Profile
(
Get Free Report)
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.
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