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

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) 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 annualized dividend and a dividend yield of 0.54%. The ex-dividend date 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 dividend payout ratio of 9.2% indicating that 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 Up 4.2 %

Turning Point Brands stock traded up $2.09 during mid-day trading on Friday, hitting $51.69. The company's stock had a trading volume of 156,647 shares, compared to its average volume of 117,775. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17. Turning Point Brands has a 52-week low of $21.19 and a 52-week high of $52.51. The firm's 50 day moving average is $42.71 and its 200 day moving average is $37.24. The company has a market cap of $915.43 million, a PE ratio of 20.50 and a beta of 0.63.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. The firm had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS. On average, analysts anticipate that Turning Point Brands will post 2.68 earnings per share for the current year.

Insider Activity

In other news, Director Gregory H.A. Baxter sold 2,000 shares of the business's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total value of $78,840.00. Following the sale, the director now owns 46,544 shares in the company, valued at approximately $1,834,764.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TPB shares. Roth Capital upgraded shares of Turning Point Brands to a "strong-buy" rating in a report on Thursday, September 19th. Roth Mkm assumed coverage on Turning Point Brands in a research note on Thursday, September 19th. They set a "buy" rating and a $50.00 target price for the company. 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. Finally, 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.

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.