Insider Buying: Turning Point Brands, Inc. (NYSE:TPB) Insider Acquires 4,000 Shares of Stock

Turning Point Brands, Inc. (NYSE:TPBGet Free Report) insider Plano Lorenzo De purchased 4,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were purchased at an average price of $31.80 per share, for a total transaction of $127,200.00. Following the acquisition, the insider now owns 34,896 shares of the company’s stock, valued at $1,109,692.80. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Turning Point Brands Trading Down 0.6 %

Shares of TPB stock opened at $32.33 on Friday. Turning Point Brands, Inc. has a 12-month low of $19.67 and a 12-month high of $34.71. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.90. The firm’s 50 day moving average is $31.34 and its 200 day moving average is $27.62. The stock has a market capitalization of $569.65 million, a P/E ratio of 14.24 and a beta of 0.61.

Turning Point Brands (NYSE:TPBGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.72 earnings per share for the quarter. Turning Point Brands had a net margin of 10.68% and a return on equity of 37.62%. The business had revenue of $97.06 million for the quarter.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.28 annualized dividend and a yield of 0.87%. Turning Point Brands’s payout ratio is presently 12.33%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TPB shares. Benchmark reiterated a “buy” rating and set a $45.00 price target on shares of Turning Point Brands in a report on Wednesday, June 5th. StockNews.com upgraded shares of Turning Point Brands from a “buy” rating to a “strong-buy” rating in a report on Friday, May 17th.

View Our Latest Report on Turning Point Brands

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Harspring Capital Management LLC bought a new position in Turning Point Brands in the fourth quarter worth approximately $2,101,000. SG Americas Securities LLC raised its position in shares of Turning Point Brands by 99.1% during the 4th quarter. SG Americas Securities LLC now owns 26,052 shares of the company’s stock valued at $686,000 after purchasing an additional 12,970 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Turning Point Brands by 162.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 521,980 shares of the company’s stock valued at $13,739,000 after purchasing an additional 323,157 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of Turning Point Brands during the 4th quarter valued at $422,000. Finally, Vanguard Group Inc. raised its position in shares of Turning Point Brands by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,314,680 shares of the company’s stock valued at $30,356,000 after purchasing an additional 55,829 shares during the period. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Company Profile

(Get Free Report)

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.

Further Reading

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