Turning Point Brands, Inc. (TPB) To Go Ex-Dividend on March 21st

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 given a dividend of 0.075 per share on Friday, April 11th. This represents a $0.30 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, March 21st. This is an increase 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 Price Performance

TPB opened at $68.99 on Friday. The stock has a 50-day moving average price of $62.04 and a 200-day moving average price of $52.76. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The firm has a market cap of $1.22 billion, a PE ratio of 27.38 and a beta of 0.65. Turning Point Brands has a 1 year low of $23.95 and a 1 year high of $70.99.

Analyst Ratings Changes

Several research firms recently commented on TPB. StockNews.com downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Benchmark boosted their price target on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Craig Hallum boosted their price target on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Oppenheimer started coverage on Turning Point Brands in a research note on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target for the company. Finally, Roth Mkm reiterated a “buy” rating and set a $70.00 price objective on shares of Turning Point Brands in a research note on Friday, January 10th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $68.75.

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.