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.
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.
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