Turning Point Brands, Inc. (NYSE:TPB) to Issue Quarterly Dividend of $0.08

Turning Point Brands, Inc. (NYSE:TPB) declared a quarterly dividend on Wednesday, November 5th. Shareholders of record on Friday, December 19th will be paid a dividend of 0.075 per share on Friday, January 9th. This represents a c) dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, December 19th.

Turning Point Brands has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Turning Point Brands has a payout ratio of 8.4% meaning 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 $0.30 annual dividend with an expected future payout ratio of 9.7%.

Turning Point Brands Stock Up 6.2%

TPB stock opened at $101.11 on Thursday. The stock has a market capitalization of $1.82 billion, a P/E ratio of 42.31 and a beta of 0.85. The firm has a 50-day simple moving average of $95.00 and a 200-day simple moving average of $83.50. The company has a quick ratio of 2.67, a current ratio of 4.22 and a debt-to-equity ratio of 1.30. Turning Point Brands has a 52 week low of $47.53 and a 52 week high of $110.55.

Turning Point Brands (NYSE:TPB) last released its earnings results on Wednesday, August 6th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.19. The business had revenue of $116.63 million during the quarter, compared to analysts’ expectations of $107.30 million. Turning Point Brands had a net margin of 10.34% and a return on equity of 25.32%. The company’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share. Equities analysts forecast that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Institutional Trading of Turning Point Brands

Several large investors have recently bought and sold shares of TPB. Divisadero Street Capital Management LP grew its stake in Turning Point Brands by 187.5% during the 2nd quarter. Divisadero Street Capital Management LP now owns 943,784 shares of the company’s stock valued at $71,511,000 after acquiring an additional 615,521 shares in the last quarter. Maple Rock Capital Partners Inc. purchased a new stake in shares of Turning Point Brands in the 2nd quarter valued at approximately $18,458,000. 4D Advisors LLC grew its stake in shares of Turning Point Brands by 133.7% in the 2nd quarter. 4D Advisors LLC now owns 222,000 shares of the company’s stock valued at $16,821,000 after buying an additional 127,000 shares during the period. SG Americas Securities LLC grew its stake in shares of Turning Point Brands by 1,369.7% in the 2nd quarter. SG Americas Securities LLC now owns 123,648 shares of the company’s stock valued at $9,369,000 after buying an additional 115,235 shares during the period. Finally, Northern Right Capital Management L.P. grew its stake in shares of Turning Point Brands by 63.9% in the 1st quarter. Northern Right Capital Management L.P. now owns 220,178 shares of the company’s stock valued at $13,087,000 after buying an additional 85,824 shares during the period. Hedge funds and other institutional investors own 96.12% of the company’s stock.

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.