Insider Selling: Turning Point Brands Inc (TPB) VP Sells $33,440.00 in Stock

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Turning Point Brands Inc (NYSE:TPB) VP James Michael Murray sold 1,000 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $33.44, for a total transaction of $33,440.00. Following the completion of the transaction, the vice president now directly owns 24,046 shares in the company, valued at $804,098.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

James Michael Murray also recently made the following trade(s):

  • On Wednesday, September 5th, James Michael Murray sold 1,000 shares of Turning Point Brands stock. The shares were sold at an average price of $33.92, for a total transaction of $33,920.00.
  • On Tuesday, August 28th, James Michael Murray sold 4,047 shares of Turning Point Brands stock. The shares were sold at an average price of $33.09, for a total transaction of $133,915.23.

TPB traded up $1.74 during trading on Friday, hitting $39.00. The stock had a trading volume of 1,370 shares, compared to its average volume of 92,074. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.55 and a current ratio of 2.03. The stock has a market capitalization of $668.26 million, a P/E ratio of 34.50 and a beta of 0.77. Turning Point Brands Inc has a twelve month low of $15.34 and a twelve month high of $38.38.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Wednesday, August 8th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. Turning Point Brands had a net margin of 7.70% and a return on equity of 51.44%. The company had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $82.40 million. During the same period in the previous year, the company posted $0.38 EPS. Turning Point Brands’s revenue was up 12.5% compared to the same quarter last year. sell-side analysts predict that Turning Point Brands Inc will post 1.74 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Friday, September 21st will be paid a dividend of $0.04 per share. The ex-dividend date is Thursday, September 20th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.41%. Turning Point Brands’s dividend payout ratio (DPR) is presently 14.81%.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Turning Point Brands by 53.2% during the 2nd quarter. BlackRock Inc. now owns 380,487 shares of the company’s stock worth $12,136,000 after purchasing an additional 132,151 shares during the period. Renaissance Technologies LLC grew its stake in shares of Turning Point Brands by 36.5% during the 2nd quarter. Renaissance Technologies LLC now owns 336,762 shares of the company’s stock worth $10,743,000 after purchasing an additional 90,062 shares during the period. ETF Managers Group LLC grew its stake in shares of Turning Point Brands by 127.9% during the 1st quarter. ETF Managers Group LLC now owns 224,595 shares of the company’s stock worth $4,326,000 after purchasing an additional 126,030 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in shares of Turning Point Brands during the 1st quarter worth $4,243,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Turning Point Brands by 101.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 163,140 shares of the company’s stock worth $5,204,000 after purchasing an additional 82,182 shares during the period. 26.68% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have issued reports on the stock. B. Riley boosted their price objective on shares of Turning Point Brands from $30.00 to $34.00 and gave the company a “$32.61” rating in a research note on Wednesday, July 18th. Zacks Investment Research raised shares of Turning Point Brands from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective on the stock in a research note on Wednesday, May 16th. Finally, Cowen reissued a “buy” rating on shares of Turning Point Brands in a research note on Friday, August 10th.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products primarily in the United States. It operates through three segments: Smokeless Products, Smoking Products, and NewGen Products. The Smokeless Products segment manufactures and markets moist snuff; and contracts for and markets loose leaf chewing tobacco products.

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