Andrew Flynn Sells 2,000 Shares of Turning Point Brands (NYSE:TPB) Stock

Turning Point Brands, Inc. (NYSE:TPB) CFO Andrew Flynn sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $97.57, for a total transaction of $195,140.00. Following the completion of the sale, the chief financial officer owned 9,443 shares in the company, valued at approximately $921,353.51. The trade was a 17.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Turning Point Brands Trading Down 0.9%

Shares of Turning Point Brands stock opened at $91.60 on Friday. Turning Point Brands, Inc. has a twelve month low of $51.48 and a twelve month high of $146.90. The company has a quick ratio of 3.98, a current ratio of 5.56 and a debt-to-equity ratio of 0.79. The business has a 50-day moving average price of $119.50 and a 200-day moving average price of $105.58. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 29.27 and a beta of 0.85.

Turning Point Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 20th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, March 20th. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.08. This represents a $0.32 dividend on an annualized basis and a yield of 0.3%. Turning Point Brands’s dividend payout ratio is currently 9.58%.

Institutional Investors Weigh In On Turning Point Brands

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Turning Point Brands by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 1,451,394 shares of the company’s stock valued at $157,331,000 after purchasing an additional 61,311 shares during the period. Divisadero Street Capital Management LP boosted its holdings in shares of Turning Point Brands by 3.2% in the 3rd quarter. Divisadero Street Capital Management LP now owns 974,066 shares of the company’s stock worth $96,296,000 after purchasing an additional 30,282 shares during the period. ArrowMark Colorado Holdings LLC boosted its holdings in shares of Turning Point Brands by 28.9% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 869,747 shares of the company’s stock worth $94,281,000 after purchasing an additional 194,938 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Turning Point Brands by 4.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 847,050 shares of the company’s stock valued at $91,820,000 after purchasing an additional 38,437 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Turning Point Brands by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 541,667 shares of the company’s stock valued at $58,728,000 after purchasing an additional 28,463 shares during the last quarter. 96.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TPB shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Turning Point Brands in a research note on Tuesday, December 23rd. Zacks Research lowered shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Oppenheimer restated an “outperform” rating and issued a $130.00 price target on shares of Turning Point Brands in a research report on Wednesday, January 14th. Finally, Wall Street Zen downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $116.67.

Turning Point Brands Company Profile

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.