Turning Point Brands, Inc. (TPB) To Go Ex-Dividend on December 19th

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

Turning Point Brands has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 7 years. Turning Point Brands has a dividend payout ratio of 8.4% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of NYSE:TPB opened at $100.15 on Friday. The firm’s 50 day simple moving average is $95.00 and its two-hundred day simple moving average is $83.62. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.22 and a quick ratio of 2.67. The company has a market capitalization of $1.80 billion, a P/E ratio of 35.26 and a beta of 0.85. Turning Point Brands has a 1-year low of $47.53 and a 1-year high of $110.55.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share (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 analyst estimates of $107.30 million. Turning Point Brands had a return on equity of 28.94% and a net margin of 12.02%.Turning Point Brands’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 EPS. Research analysts expect that Turning Point Brands will post 2.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Turning Point Brands

Several institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in Turning Point Brands by 53.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,693 shares of the company’s stock worth $819,000 after purchasing an additional 4,797 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Turning Point Brands in the 1st quarter valued at $325,000. 4D Advisors LLC acquired a new position in Turning Point Brands during the 1st quarter worth $5,647,000. 1060 Capital LLC purchased a new position in Turning Point Brands in the first quarter worth approximately $2,114,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Turning Point Brands in the second quarter valued at $412,000. 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.