Turning Point Brands, Inc. (NYSE:TPB) Increases Dividend to $0.08 Per Share

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 given 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 0.43%. The ex-dividend date of this dividend is Friday, March 21st. This is a positive change 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 8.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 $0.28 annual dividend with an expected future payout ratio of 9.1%.

Turning Point Brands Stock Up 0.1 %

NYSE TPB opened at $68.99 on Friday. The stock’s 50 day moving average is $62.04 and its 200 day moving average is $52.76. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. Turning Point Brands has a 12 month low of $23.95 and a 12 month high of $70.99. The stock has a market cap of $1.22 billion, a PE ratio of 27.38 and a beta of 0.65.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Oppenheimer assumed coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 target price 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 raised their target price 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. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Finally, StockNews.com lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Turning Point Brands presently has an average rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Company Profile

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.