Turning Point Brands, Inc. (NYSE:TPB) to Issue Quarterly Dividend of $0.07

Turning Point Brands, Inc. (NYSE:TPB) announced 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 0.74%. The ex-dividend date is Friday, September 13th.

Turning Point Brands has increased its dividend by an average of 9.1% per year over the last three years and has raised its dividend every year for the last 6 years. Turning Point Brands has a payout ratio of 9.4% indicating that its dividend is sufficiently covered by earnings.

Turning Point Brands Stock Performance

NYSE:TPB traded down $0.38 during trading hours on Friday, reaching $37.84. The stock had a trading volume of 4,069 shares, compared to its average volume of 113,029. The stock has a market cap of $666.74 million, a P/E ratio of 16.84 and a beta of 0.62. Turning Point Brands has a 12-month low of $19.67 and a 12-month high of $40.57. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.59 and a current ratio of 2.55. The stock has a 50 day simple moving average of $34.00 and a 200 day simple moving average of $29.70.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.72 earnings per share (EPS) for the quarter. Turning Point Brands had a return on equity of 37.62% and a net margin of 10.68%. The firm had revenue of $97.06 million during the quarter.

Analyst Ratings Changes

TPB has been the subject of several analyst reports. Benchmark restated a “buy” rating and set a $45.00 price target on shares of Turning Point Brands in a research report on Wednesday, June 5th. StockNews.com upgraded Turning Point Brands from a “buy” rating to a “strong-buy” rating in a report on Friday, May 17th.

Insider Buying and Selling at Turning Point Brands

In related news, CRO Summer Frein purchased 2,260 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were acquired at an average price of $30.96 per share, for a total transaction of $69,969.60. Following the purchase, the executive now directly owns 17,203 shares in the company, valued at $532,604.88. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Turning Point Brands news, CRO Summer Frein acquired 2,260 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was bought at an average cost of $30.96 per share, with a total value of $69,969.60. Following the completion of the purchase, the executive now directly owns 17,203 shares in the company, valued at $532,604.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Plano Lorenzo De acquired 4,000 shares of Turning Point Brands stock in a transaction that occurred on Monday, June 17th. The shares were purchased at an average price of $31.80 per share, with a total value of $127,200.00. Following the purchase, the insider now owns 34,896 shares in the company, valued at $1,109,692.80. The disclosure for this purchase can be found here. 5.20% of the stock is owned by company insiders.

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.