Turning Point Brands, Inc. (TPB) Director Acquires $54,466.47 in Stock

Turning Point Brands, Inc. (NYSE:TPB) Director H.C. Charles Diao acquired 3,303 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average cost of $16.49 per share, with a total value of $54,466.47. Following the transaction, the director now owns 2,003 shares in the company, valued at $33,029.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Turning Point Brands, Inc. (NYSE TPB) traded down 2.82% during midday trading on Thursday, hitting $16.52. 11,710 shares of the company were exchanged. The stock’s 50-day moving average is $15.49 and its 200-day moving average is $15.26. The stock has a market cap of $314.36 million, a PE ratio of 10.38 and a beta of 0.51. Turning Point Brands, Inc. has a one year low of $11.67 and a one year high of $18.05.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Thursday, August 10th. The company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Turning Point Brands had a net margin of 13.62% and a return on equity of 114.77%. The business had revenue of $72.10 million during the quarter, compared to analysts’ expectations of $67.35 million. During the same quarter in the prior year, the business posted $0.05 earnings per share. Turning Point Brands’s revenue was up 39.7% compared to the same quarter last year. Equities research analysts anticipate that Turning Point Brands, Inc. will post $1.28 EPS for the current year.

Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC boosted its stake in Turning Point Brands by 351.0% in the first quarter. Acadian Asset Management LLC now owns 6,530 shares of the company’s stock valued at $102,000 after buying an additional 5,082 shares in the last quarter. Bessemer Group Inc. purchased a new stake in Turning Point Brands during the second quarter valued at $143,000. Teachers Advisors LLC boosted its stake in Turning Point Brands by 25.6% in the second quarter. Teachers Advisors LLC now owns 10,249 shares of the company’s stock valued at $157,000 after buying an additional 2,087 shares in the last quarter. Martingale Asset Management L P purchased a new stake in Turning Point Brands during the second quarter valued at $280,000. Finally, potrero capital research llc purchased a new stake in Turning Point Brands during the first quarter valued at $356,000. 68.18% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently weighed in on TPB. FBR & Co reaffirmed a “buy” rating and set a $17.00 price objective on shares of Turning Point Brands in a research report on Friday, May 12th. Zacks Investment Research downgraded shares of Turning Point Brands from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $19.00 price objective (up previously from $18.00) on shares of Turning Point Brands in a research report on Monday, May 15th.

Turning Point Brands Company Profile

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.