Turning Point Brands, Inc. (NYSE:TPB) Declares $0.07 Quarterly Dividend

Turning Point Brands, Inc. (NYSE:TPB) declared a quarterly dividend on Wednesday, July 31st, Zacks reports. Investors of record on Friday, September 13th will be paid a dividend of 0.07 per share on Friday, October 4th. This represents a $0.28 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Friday, September 13th.

Turning Point Brands has raised its dividend by an average of 9.1% per year over the last three years and has increased its dividend every year for the last 6 years. Turning Point Brands has a dividend payout ratio of 9.3% indicating that its dividend is sufficiently covered by earnings.

Turning Point Brands Stock Down 2.5 %

Turning Point Brands stock opened at $38.27 on Thursday. Turning Point Brands has a fifty-two week low of $19.67 and a fifty-two week high of $40.66. The firm has a market capitalization of $677.76 million, a price-to-earnings ratio of 16.86 and a beta of 0.62. The stock’s fifty day moving average is $37.71 and its two-hundred day moving average is $32.72. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.82 EPS for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. The firm had revenue of $108.51 million for the quarter.

Insider Buying and Selling

In other news, insider Plano Lorenzo De purchased 4,000 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were bought at an average cost of $31.80 per share, with a total value of $127,200.00. Following the purchase, the insider now directly owns 34,896 shares of the company’s stock, valued at $1,109,692.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Turning Point Brands news, insider Plano Lorenzo De purchased 4,000 shares of the business’s stock in a transaction on Monday, June 17th. The stock was bought at an average cost of $31.80 per share, for a total transaction of $127,200.00. Following the acquisition, the insider now owns 34,896 shares of the company’s stock, valued at approximately $1,109,692.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory H.A. Baxter sold 2,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total value of $78,840.00. Following the transaction, the director now directly owns 46,544 shares in the company, valued at approximately $1,834,764.48. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TPB. StockNews.com raised shares of Turning Point Brands from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 17th. Benchmark reiterated a “buy” rating and set a $45.00 target price on shares of Turning Point Brands in a report on Friday, August 2nd.

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.