Turning Point Brands (TPB) Insider James Wells Dobbins Sells 5,000 Shares

Turning Point Brands (NYSE:TPB) insider James Wells Dobbins sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 23rd. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the sale, the insider now directly owns 89,041 shares in the company, valued at approximately $2,226,025. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Shares of Turning Point Brands opened at $26.12 on Friday, according to MarketBeat.com. The company has a debt-to-equity ratio of 3.43, a current ratio of 2.53 and a quick ratio of 0.61. The firm has a market capitalization of $502.50 million, a price-to-earnings ratio of 19.49 and a beta of 0.75. Turning Point Brands has a fifty-two week low of $14.45 and a fifty-two week high of $26.35.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Wednesday, May 9th. The company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The company had revenue of $73.90 million during the quarter, compared to the consensus estimate of $70.70 million. Turning Point Brands had a return on equity of 52.48% and a net margin of 7.29%. Turning Point Brands’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. analysts forecast that Turning Point Brands will post 1.62 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, June 22nd will be issued a $0.04 dividend. The ex-dividend date is Thursday, June 21st. This represents a $0.16 annualized dividend and a yield of 0.61%. Turning Point Brands’s dividend payout ratio (DPR) is presently 14.81%.

TPB has been the subject of several analyst reports. Zacks Investment Research upgraded Turning Point Brands from a “hold” rating to a “strong-buy” rating and set a $26.00 price target for the company in a report on Wednesday, May 16th. B. Riley set a $30.00 price target on Turning Point Brands and gave the company a “buy” rating in a report on Wednesday, May 9th. Finally, Cowen reiterated a “buy” rating on shares of Turning Point Brands in a report on Thursday, March 15th.

A number of institutional investors and hedge funds have recently modified their holdings of TPB. O Shaughnessy Asset Management LLC acquired a new position in Turning Point Brands in the 1st quarter valued at $234,000. Citadel Advisors LLC acquired a new position in Turning Point Brands in the 1st quarter valued at $265,000. Schwab Charles Investment Management Inc. acquired a new position in Turning Point Brands in the 1st quarter valued at $315,000. JPMorgan Chase & Co. raised its holdings in Turning Point Brands by 274.7% in the 1st quarter. JPMorgan Chase & Co. now owns 18,035 shares of the company’s stock valued at $350,000 after acquiring an additional 13,222 shares during the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new position in Turning Point Brands in the 4th quarter valued at $381,000. Institutional investors own 21.69% of the company’s stock.

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.

Insider Buying and Selling by Quarter for Turning Point Brands (NYSE:TPB)

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