Turning Point Brands, Inc. Plans Quarterly Dividend of $0.06 (NYSE:TPB)

Turning Point Brands, Inc. (NYSE:TPB) declared a quarterly dividend on Wednesday, August 4th, Zacks reports. Shareholders of record on Friday, September 17th will be given a dividend of 0.055 per share on Friday, October 8th. This represents a $0.22 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Thursday, September 16th.

Turning Point Brands has increased its dividend payment by 400.0% over the last three years and has raised its dividend every year for the last 1 years. Turning Point Brands has a dividend payout ratio of 9.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Turning Point Brands to earn $3.29 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 6.7%.

NYSE:TPB opened at $47.58 on Wednesday. The company has a debt-to-equity ratio of 3.11, a current ratio of 4.70 and a quick ratio of 3.09. Turning Point Brands has a fifty-two week low of $25.99 and a fifty-two week high of $61.08. The stock’s 50-day moving average is $48.56 and its two-hundred day moving average is $47.84. The stock has a market cap of $900.40 million, a PE ratio of 20.25 and a beta of 0.54.

Turning Point Brands (NYSE:TPB) last released its earnings results on Monday, July 26th. The company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.19. Turning Point Brands had a return on equity of 51.99% and a net margin of 10.84%. The company had revenue of $122.60 million for the quarter, compared to analysts’ expectations of $106.22 million. During the same quarter in the previous year, the business posted $0.71 EPS. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, equities research analysts anticipate that Turning Point Brands will post 2.85 earnings per share for the current year.

Several equities research analysts recently commented on the company. Zacks Investment Research cut Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Thursday, September 9th. B. Riley boosted their price target on Turning Point Brands from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Turning Point Brands currently has a consensus rating of “Buy” and a consensus target price of $56.50.

In related news, major shareholder General L.P. Standard sold 818,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 3rd. The stock was sold at an average price of $50.65, for a total value of $41,431,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.80% of the company’s stock.

A hedge fund recently raised its stake in Turning Point Brands stock. Wells Fargo & Company MN increased its stake in Turning Point Brands, Inc. (NYSE:TPB) by 88.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,165 shares of the company’s stock after purchasing an additional 6,188 shares during the quarter. Wells Fargo & Company MN owned approximately 0.07% of Turning Point Brands worth $602,000 at the end of the most recent reporting period. 84.17% of the stock is owned by institutional investors.

About Turning Point Brands

Turning Point Brands, Inc provides tobacco products. It operates through following 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. The Smoking products segment imports and markets cigarette papers, tubes, finished cigars, NYO cigar tobaccos and cigar wraps and processes, packages and markets pipe tobaccos.

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Dividend History for Turning Point Brands (NYSE:TPB)

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