Turning Point Brands, Inc. (NYSE:TPB) Announces Quarterly Dividend of $0.07

Turning Point Brands, Inc. (NYSE:TPB) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Friday, December 20th will be given a dividend of 0.07 per share on Friday, January 10th. This represents a $0.28 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, December 20th.

Turning Point Brands has raised its dividend by an average of 9.1% annually over the last three years. Turning Point Brands has a payout ratio of 9.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Turning Point Brands to earn $3.08 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 9.1%.

Turning Point Brands Stock Performance

NYSE TPB opened at $49.60 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $878.42 million, a price-to-earnings ratio of 20.50 and a beta of 0.63. The firm’s 50 day simple moving average is $42.71 and its 200 day simple moving average is $37.24. Turning Point Brands has a 1 year low of $21.12 and a 1 year high of $52.51.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.01. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. The business had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. During the same quarter last year, the business posted $0.69 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts expect that Turning Point Brands will post 2.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TPB. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research report on Thursday, September 19th. StockNews.com lowered shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 24th. Benchmark restated a “buy” rating and issued a $45.00 target price on shares of Turning Point Brands in a research report on Friday, August 2nd. Finally, Roth Mkm began coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They issued a “buy” rating and a $50.00 target price on the stock.

Insider Activity

In other news, Director Gregory H.A. Baxter sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the transaction, the director now owns 46,544 shares of the company’s stock, valued at approximately $1,834,764.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.20% of the company’s stock.

About Turning Point Brands

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.