Turning Point Brands, Inc. (NYSE:TPB – Get Free Report) 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.
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.
Check Out Our Latest Analysis on TPB
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.
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