Turning Point Brands Inc (NYSE:TPB) insider James Wells Dobbins sold 10,000 shares of Turning Point Brands stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $20.94, for a total transaction of $209,400.00. Following the transaction, the insider now directly owns 94,041 shares in the company, valued at $1,969,218.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Turning Point Brands Inc (NYSE:TPB) opened at $21.42 on Thursday. The company has a quick ratio of 0.37, a current ratio of 1.81 and a debt-to-equity ratio of 3.77. Turning Point Brands Inc has a 1-year low of $12.31 and a 1-year high of $22.99. The stock has a market cap of $411.47 and a price-to-earnings ratio of 12.90.
Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.06). Turning Point Brands had a return on equity of 93.53% and a net margin of 12.70%. The firm had revenue of $73.30 million during the quarter, compared to analysts’ expectations of $71.15 million. During the same period in the prior year, the firm posted $0.34 earnings per share. Turning Point Brands’s revenue for the quarter was up 43.9% compared to the same quarter last year. sell-side analysts anticipate that Turning Point Brands Inc will post 1.15 EPS for the current fiscal year.
The company also recently declared an annual dividend, which was paid on Friday, December 15th. Shareholders of record on Monday, November 27th were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, November 24th. Turning Point Brands’s dividend payout ratio is currently 2.41%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPB. Teachers Advisors LLC grew its holdings in Turning Point Brands by 25.6% in the second quarter. Teachers Advisors LLC now owns 10,249 shares of the company’s stock worth $157,000 after purchasing an additional 2,087 shares during the last quarter. OxFORD Asset Management LLP purchased a new position in Turning Point Brands in the third quarter worth $197,000. Martingale Asset Management L P purchased a new position in Turning Point Brands in the second quarter worth $280,000. D.A. Davidson & CO. purchased a new position in Turning Point Brands in the second quarter worth $413,000. Finally, AJO LP purchased a new position in Turning Point Brands in the second quarter worth $520,000. 17.62% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on TPB. B. Riley reissued a “buy” rating on shares of Turning Point Brands in a report on Wednesday, November 1st. FBR & Co reissued a “buy” rating and set a $17.00 price objective on shares of Turning Point Brands in a report on Monday, October 2nd. Zacks Investment Research raised shares of Turning Point Brands from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Cowen reaffirmed a “buy” rating and issued a $20.00 price target on shares of Turning Point Brands in a report on Sunday, September 17th.
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Turning Point Brands Company Profile
Turning Point Brands, Inc is an independent provider of Other Tobacco Products (OTP) in the United States. The Company operates in three segments smokeless products, smoking products and NewGen products. The smokeless products segment manufactures and markets moist snuff; and contracts for and markets chewing tobacco products.
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