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

Turning Point Brands, Inc. (NYSE:TPB) declared a quarterly dividend on Wednesday, February 25th. Shareholders of record on Friday, March 20th will be paid a dividend of 0.08 per share on Friday, April 10th. This represents a c) annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, March 20th. This is a 6.7% increase from Turning Point Brands’s previous quarterly dividend of $0.08.

Turning Point Brands has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 7 years. Turning Point Brands has a dividend payout ratio of 8.4% indicating that its dividend is sufficiently covered by earnings. 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 Stock Down 0.8%

TPB opened at $141.81 on Friday. The company has a market capitalization of $2.70 billion, a PE ratio of 49.93 and a beta of 0.87. The company has a debt-to-equity ratio of 0.82, a current ratio of 5.56 and a quick ratio of 3.98. Turning Point Brands has a fifty-two week low of $51.48 and a fifty-two week high of $146.90. The business has a 50-day moving average of $119.67 and a 200-day moving average of $105.29.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, Chairman David Edward Glazek sold 30,000 shares of Turning Point Brands stock in a transaction on Friday, December 19th. The shares were sold at an average price of $110.26, for a total transaction of $3,307,800.00. Following the sale, the chairman owned 127,083 shares in the company, valued at $14,012,171.58. The trade was a 19.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director H.C. Charles Diao sold 2,000 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $108.20, for a total transaction of $216,400.00. Following the completion of the sale, the director directly owned 9,804 shares in the company, valued at $1,060,792.80. This trade represents a 16.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Turning Point Brands

Several institutional investors have recently made changes to their positions in TPB. Vanguard Group Inc. raised its position in Turning Point Brands by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 1,451,394 shares of the company’s stock worth $157,331,000 after purchasing an additional 61,311 shares in the last quarter. Divisadero Street Capital Management LP raised its holdings in shares of Turning Point Brands by 3.2% in the 3rd quarter. Divisadero Street Capital Management LP now owns 974,066 shares of the company’s stock worth $96,296,000 after buying an additional 30,282 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its position in shares of Turning Point Brands by 28.9% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 869,747 shares of the company’s stock worth $94,281,000 after buying an additional 194,938 shares during the period. Thrivent Financial for Lutherans boosted its stake in Turning Point Brands by 4.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 847,050 shares of the company’s stock valued at $91,820,000 after buying an additional 38,437 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Turning Point Brands by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 541,667 shares of the company’s stock valued at $58,728,000 after acquiring an additional 28,463 shares during the period. 96.12% of the stock is currently owned by institutional investors and hedge funds.

About Turning Point Brands

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.