Turning Point Brands, Inc. (NYSE:TPB) Declares Quarterly Dividend of $0.08

Turning Point Brands, Inc. (NYSE:TPB) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Investors of record on Friday, March 21st will be given a dividend of 0.075 per share on Friday, April 11th. This represents a $0.30 annualized dividend 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% per year over the last three years. Turning Point Brands has a dividend payout ratio of 8.5% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 1.0 %

TPB opened at $57.38 on Wednesday. Turning Point Brands has a twelve month low of $26.45 and a twelve month high of $72.54. The company has a 50-day simple moving average of $62.75 and a 200 day simple moving average of $55.05. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 22.77 and a beta of 0.74.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TPB shares. Alliance Global Partners started coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They set a “buy” rating and a $80.00 price objective for the company. Roth Mkm reissued a “buy” rating and issued a $70.00 target price on shares of Turning Point Brands in a report on Friday, January 10th. Craig Hallum increased their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. StockNews.com cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Finally, Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a report on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price 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.