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. Shareholders 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 0.44%. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07.

Turning Point Brands has increased its dividend payment by an average of 8.4% per year over the last three years. Turning Point Brands has a dividend payout ratio of 8.0% 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 $0.28 annual dividend with an expected future payout ratio of 9.1%.

Turning Point Brands Trading Up 0.6 %

Shares of Turning Point Brands stock opened at $68.95 on Thursday. Turning Point Brands has a 52-week low of $22.69 and a 52-week high of $70.99. 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 company’s 50-day simple moving average is $61.83 and its 200-day simple moving average is $52.65. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 27.36 and a beta of 0.65.

Analyst Ratings Changes

TPB has been the topic of several recent research reports. Craig Hallum upped their price target 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 Mkm reissued a “buy” rating and set a $70.00 price objective on shares of Turning Point Brands in a research note on Friday, January 10th. Oppenheimer initiated coverage on shares of Turning Point Brands in a research note on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective on the stock. StockNews.com downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Finally, Benchmark upped their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $68.75.

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.