Turning Point Brands, Inc. (TPB) to Issue Quarterly Dividend of $0.08 on April 11th

Turning Point Brands, Inc. (NYSE:TPB) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Investors of record on Friday, March 21st will be paid a dividend of 0.075 per share on Friday, April 11th. This represents a $0.30 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Friday, March 21st. This is a 7.1% increase from Turning Point Brands’s previous quarterly dividend of $0.07.

Turning Point Brands has raised its dividend by an average of 8.4% annually over the last three years. Turning Point Brands has a dividend payout ratio of 8.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Turning Point Brands to earn $3.09 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 9.7%.

Turning Point Brands Price Performance

Shares of TPB opened at $57.38 on Wednesday. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 22.77 and a beta of 0.74. Turning Point Brands has a 1-year low of $26.45 and a 1-year high of $72.54. The company’s fifty day simple moving average is $62.75 and its 200 day simple moving average is $55.05. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

Analyst Ratings Changes

TPB has been the topic of several research reports. Craig Hallum upped their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a report on Monday, March 3rd. They issued a “buy” rating and a $80.00 price objective on the stock. StockNews.com downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a report on Thursday, March 6th. Finally, Roth Mkm reiterated a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Turning Point Brands currently has an average rating of “Buy” and a consensus price target of $73.33.

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.