Key Points
- CFO Andrew Flynn sold 2,000 shares on March 4 at an average price of $97.57 for a $195,140 transaction, leaving him with 9,443 shares — a 17.48% reduction in his position.
- Turning Point Brands declared a quarterly dividend of $0.08 per share (annualized $0.32), with an ex-dividend date of March 20 and payment on April 10, implying a yield of about 0.3%.
- Analyst sentiment is mixed — the stock has an average MarketBeat rating of "Hold" with an average target of $116.67 — and institutional investors own roughly 96.12% of the shares.
Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) CFO Andrew Flynn sold 2,000 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $97.57, for a total transaction of $195,140.00. Following the completion of the sale, the chief financial officer directly owned 9,443 shares of the company's stock, valued at $921,353.51. This represents a 17.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Turning Point Brands Price Performance
Shares of NYSE TPB traded down $0.02 during midday trading on Friday, reaching $92.38. The company's stock had a trading volume of 148,831 shares, compared to its average volume of 353,370. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.98 and a current ratio of 5.56. The company has a market cap of $1.77 billion, a P/E ratio of 29.51 and a beta of 0.85. The business's 50 day moving average price is $119.79 and its two-hundred day moving average price is $105.62. Turning Point Brands, Inc. has a fifty-two week low of $51.48 and a fifty-two week high of $146.90.
Turning Point Brands Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 20th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, March 20th. This is a positive change from Turning Point Brands's previous quarterly dividend of $0.08. Turning Point Brands's dividend payout ratio is currently 9.58%.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in TPB. First Horizon Corp purchased a new stake in shares of Turning Point Brands in the third quarter worth about $25,000. Kemnay Advisory Services Inc. bought a new stake in Turning Point Brands during the 4th quarter worth approximately $27,000. Empowered Funds LLC bought a new stake in Turning Point Brands during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in Turning Point Brands in the 3rd quarter worth approximately $28,000. Finally, Advisory Services Network LLC purchased a new stake in Turning Point Brands in the 3rd quarter worth approximately $28,000. 96.12% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. Zacks Research cut shares of Turning Point Brands from a "hold" rating to a "strong sell" rating in a research report on Monday. Oppenheimer reaffirmed an "outperform" rating and issued a $130.00 price objective on shares of Turning Point Brands in a research note on Wednesday, January 14th. Wall Street Zen downgraded Turning Point Brands from a "buy" rating to a "hold" rating in a report on Saturday, January 17th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Turning Point Brands in a research report on Tuesday, December 23rd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $116.67.
Get Our Latest Analysis on TPB
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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