Insider Buying: Turning Point Brands, Inc. (TPB) Director Acquires 7,697 Shares of Stock
Turning Point Brands, Inc. (NYSE:TPB) Director H.C. Charles Diao bought 7,697 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were bought at an average price of $15.91 per share, with a total value of $122,459.27. Following the purchase, the director now owns 11,000 shares in the company, valued at approximately $175,010. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
H.C. Charles Diao also recently made the following trade(s):
- On Friday, August 18th, H.C. Charles Diao bought 3,303 shares of Turning Point Brands stock. The shares were bought at an average price of $16.49 per share, with a total value of $54,466.47.
Shares of Turning Point Brands, Inc. (TPB) traded up $0.42 during trading on Wednesday, reaching $16.30. 65,000 shares of the company’s stock traded hands, compared to its average volume of 33,069. Turning Point Brands, Inc. has a twelve month low of $11.67 and a twelve month high of $18.99. The company has a quick ratio of 0.37, a current ratio of 1.81 and a debt-to-equity ratio of 3.77. The firm has a market cap of $305.05, a PE ratio of 8.23 and a beta of 0.15.
The firm also recently disclosed an annual dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, November 27th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Friday, November 24th.
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Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake in Turning Point Brands by 55.7% in the 1st quarter. Bank of New York Mellon Corp now owns 40,236 shares of the company’s stock worth $628,000 after purchasing an additional 14,396 shares in the last quarter. Wells Fargo & Company MN raised its stake in Turning Point Brands by 30.5% in the 2nd quarter. Wells Fargo & Company MN now owns 62,412 shares of the company’s stock worth $957,000 after purchasing an additional 14,584 shares in the last quarter. Renaissance Technologies LLC bought a new position in Turning Point Brands in the 1st quarter valued at about $658,000. Argent Capital Management LLC bought a new position in Turning Point Brands in the 2nd quarter valued at about $2,552,000. Finally, Spark Investment Management LLC increased its holdings in Turning Point Brands by 133.5% in the 2nd quarter. Spark Investment Management LLC now owns 54,643 shares of the company’s stock valued at $838,000 after buying an additional 31,243 shares during the period. Institutional investors and hedge funds own 15.11% of the company’s stock.
A number of analysts have recently issued reports on TPB shares. FBR & Co restated a “buy” rating and set a $17.00 target price on shares of Turning Point Brands in a research note on Monday, October 2nd. Zacks Investment Research upgraded shares of Turning Point Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Cowen and Company restated a “buy” rating and set a $20.00 target price on shares of Turning Point Brands in a research note on Sunday, September 17th. Finally, B. Riley restated a “buy” rating and set a $20.00 target price on shares of Turning Point Brands in a research note on Friday, November 10th.
About Turning Point Brands
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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