Turning Point Brands, Inc. (NYSE:TPB) Announces Dividend Increase – $0.08 Per Share

Turning Point Brands, Inc. (NYSE:TPB) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Investors 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 annualized dividend and a yield of 0.44%. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.07.

Turning Point Brands has raised 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. 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 NYSE:TPB traded up $0.42 during trading on Wednesday, reaching $68.95. 187,419 shares of the company were exchanged, compared to its average volume of 211,892. The firm has a market capitalization of $1.22 billion, a PE ratio of 27.36 and a beta of 0.65. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. Turning Point Brands has a 12-month low of $22.69 and a 12-month high of $70.99. The business’s fifty day simple moving average is $61.64 and its 200-day simple moving average is $52.54.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Craig Hallum lifted their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Roth Mkm restated a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a research report on Friday, January 10th. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Benchmark boosted their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Oppenheimer assumed coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.