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. Stockholders of record on Friday, March 21st will be paid a dividend of 0.075 per share on Friday, April 11th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.44%. This is an 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 8.0% 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 0.6 %

Turning Point Brands stock traded up $0.42 during midday trading on Wednesday, reaching $68.95. The stock had a trading volume of 187,419 shares, compared to its average volume of 211,892. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. Turning Point Brands has a 1-year low of $22.69 and a 1-year high of $70.99. The firm’s fifty day simple moving average is $61.64 and its 200-day simple moving average is $52.54. The stock has a market capitalization of $1.22 billion, a P/E ratio of 27.36 and a beta of 0.65.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TPB. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Benchmark increased their price target on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Craig Hallum raised their target price on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. StockNews.com lowered Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a research report on Friday, January 10th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Turning Point Brands has an average rating of “Buy” and an average price target 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.