Key Points
- Turning Point Brands CAO Brian Wigginton sold 4,000 shares on May 12 at an average price of $91.67, totaling $366,680. After the sale, he still held 9,230 shares, a 30.23% reduction in his position.
- The company reported stronger-than-expected quarterly results, with EPS of $0.76 versus the $0.68 estimate and revenue of $124.28 million versus $115.67 million expected. Revenue rose 16.8% year over year.
- Turning Point Brands announced a quarterly dividend of $0.08 per share, payable July 10 to shareholders of record on June 19. The stock also drew mixed analyst views, with an average rating of “Hold” and a $118.75 target price.
Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) CAO Brian Wigginton sold 4,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total transaction of $366,680.00. Following the completion of the sale, the chief accounting officer owned 9,230 shares of the company's stock, valued at approximately $846,114.10. This represents a 30.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Turning Point Brands Stock Down 3.4%
Turning Point Brands stock opened at $89.77 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.87 and a quick ratio of 4.12. The company's 50-day moving average is $84.44 and its 200-day moving average is $101.59. The firm has a market capitalization of $1.74 billion, a PE ratio of 30.54 and a beta of 0.93. Turning Point Brands, Inc. has a fifty-two week low of $65.80 and a fifty-two week high of $146.90.
Turning Point Brands (NYSE:TPB - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.08. The business had revenue of $124.28 million during the quarter, compared to the consensus estimate of $115.67 million. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. Turning Point Brands's revenue was up 16.8% on a year-over-year basis. During the same period last year, the business posted $0.91 EPS. Sell-side analysts anticipate that Turning Point Brands, Inc. will post 2.66 earnings per share for the current year.
Turning Point Brands Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 19th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, June 18th. Turning Point Brands's payout ratio is currently 10.88%.
Institutional Investors Weigh In On Turning Point Brands
A number of institutional investors have recently modified their holdings of the business. Sei Investments Co. increased its position in Turning Point Brands by 46.5% during the first quarter. Sei Investments Co. now owns 68,676 shares of the company's stock worth $5,960,000 after acquiring an additional 21,805 shares during the period. Cetera Investment Advisers raised its stake in Turning Point Brands by 25.8% in the 1st quarter. Cetera Investment Advisers now owns 4,053 shares of the company's stock worth $352,000 after purchasing an additional 832 shares in the last quarter. Militia Capital Management LLC bought a new stake in Turning Point Brands in the 1st quarter valued at about $3,472,000. First Trust Advisors LP grew its position in shares of Turning Point Brands by 39.6% during the 1st quarter. First Trust Advisors LP now owns 689,905 shares of the company's stock worth $59,877,000 after purchasing an additional 195,643 shares in the last quarter. Finally, Copeland Capital Management LLC grew its position in shares of Turning Point Brands by 99.4% during the 1st quarter. Copeland Capital Management LLC now owns 407,208 shares of the company's stock worth $35,342,000 after purchasing an additional 203,020 shares in the last quarter. Institutional investors own 96.12% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Turning Point Brands from a "buy" rating to a "hold" rating in a research note on Saturday, January 17th. Needham & Company LLC raised shares of Turning Point Brands from a "hold" rating to a "buy" rating and set a $125.00 price objective for the company in a research report on Friday, May 8th. Oppenheimer reiterated an "outperform" rating and issued a $130.00 price objective on shares of Turning Point Brands in a report on Wednesday, January 14th. Weiss Ratings lowered shares of Turning Point Brands from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday. Finally, Zacks Research downgraded shares of Turning Point Brands from a "hold" rating to a "strong sell" rating in a report on Monday, March 2nd. 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 stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $118.75.
View Our Latest Stock Report 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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