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

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

Turning Point Brands has increased 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. 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 Down 2.8 %

Shares of TPB stock opened at $49.60 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80. The firm’s 50-day moving average is $42.71 and its 200-day moving average is $37.24. The stock has a market cap of $878.42 million, a price-to-earnings ratio of 20.50 and a beta of 0.63. Turning Point Brands has a 52-week low of $21.12 and a 52-week high of $52.51.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $105.62 million for the quarter, compared to analysts’ expectations of $100.71 million. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. Turning Point Brands’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 EPS. Sell-side analysts predict that Turning Point Brands will post 2.68 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 46,544 shares in the company, valued at $1,834,764.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company 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.