Turning Point Brands Inc (NYSE:TPB) Director Thomas F. Jr. Helms sold 25,000 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $42.04, for a total transaction of $1,051,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of NYSE:TPB traded down $2.71 during trading on Wednesday, reaching $40.76. 585,100 shares of the company’s stock traded hands, compared to its average volume of 86,105. The company has a quick ratio of 0.55, a current ratio of 2.03 and a debt-to-equity ratio of 2.86. Turning Point Brands Inc has a 12 month low of $15.34 and a 12 month high of $44.13. The company has a market cap of $768.69 million, a PE ratio of 37.74 and a beta of 0.78.
Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Wednesday, August 8th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $81.10 million during the quarter, compared to the consensus estimate of $82.40 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. research analysts forecast that Turning Point Brands Inc will post 1.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Friday, September 21st will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Thursday, September 20th. Turning Point Brands’s payout ratio is 14.81%.
A number of equities research analysts recently weighed in on TPB shares. 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 report on Wednesday, July 18th. Cowen reaffirmed a “buy” rating on shares of Turning Point Brands in a research report on Friday, August 10th. Finally, 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 for the company in a research report on Wednesday, May 16th.
Institutional investors have recently bought and sold shares of the business. OppenheimerFunds Inc. acquired a new position in Turning Point Brands during the 2nd quarter valued at about $200,000. O Shaughnessy Asset Management LLC acquired a new position in Turning Point Brands during the 1st quarter valued at about $234,000. Rhumbline Advisers acquired a new position in Turning Point Brands during the 2nd quarter valued at about $239,000. Citadel Advisors LLC acquired a new position in Turning Point Brands during the 1st quarter valued at about $265,000. Finally, Macquarie Group Ltd. acquired a new position in Turning Point Brands during the 2nd quarter valued at about $267,000. 27.11% of the stock is owned by hedge funds and other institutional investors.
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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