Turning Point Brands, Inc. (TPB) To Go Ex-Dividend on December 20th

Turning Point Brands, Inc. (NYSE:TPB) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors 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 yield of 0.56%. The ex-dividend date of this dividend is Friday, December 20th.

Turning Point Brands has raised its dividend payment 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. 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

TPB stock traded up $0.69 during trading hours on Friday, reaching $50.29. The stock had a trading volume of 6,569 shares, compared to its average volume of 117,083. The stock has a 50-day simple moving average of $42.71 and a 200 day simple moving average of $37.24. Turning Point Brands has a fifty-two week low of $21.19 and a fifty-two week high of $52.51. The stock has a market capitalization of $890.64 million, a PE ratio of 20.50 and a beta of 0.63. 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 (NYSE:TPB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $105.62 million during the quarter, compared to analysts’ expectations of $100.71 million. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. Turning Point Brands’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $0.69 earnings per share. Analysts predict that Turning Point Brands will post 2.68 EPS for the current fiscal year.

Insider Buying and Selling at Turning Point Brands

In related news, Director Gregory H.A. Baxter sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the sale, the director now owns 46,544 shares of the company’s stock, valued at $1,834,764.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.20% of the company’s stock.

Analyst Upgrades and Downgrades

TPB has been the subject of several research reports. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a report on Thursday, September 19th. Roth Mkm initiated coverage on shares of Turning Point Brands in a report 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 cut Turning Point Brands from a “strong-buy” rating to a “buy” rating in a 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.