Turning Point Brands, Inc. (NYSE:TPB) Shareholders Set to Receive $0.08 Quarterly Dividend

Turning Point Brands, Inc. (NYSE:TPB) declared a quarterly dividend on Monday, November 2nd. Stockholders of record on Friday, December 18th will be paid a dividend of $0.08 per share on Friday, January 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, December 18th.

Turning Point Brands has increased its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 7 years. Turning Point Brands has a payout ratio of 9.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Turning Point Brands to earn $2.02 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 15.8%.

Turning Point Brands Price Performance

Shares of NYSE:TPB opened at $66.59 on Tuesday. The business has a fifty day moving average price of $67.06 and a 200-day moving average price of $86.76. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.67 and a quick ratio of 4.16. The company has a market capitalization of $1.29 billion, a PE ratio of 28.80 and a beta of 0.97. Turning Point Brands has a 1-year low of $54.17 and a 1-year high of $146.90.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.11. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The company had revenue of $142.96 million for the quarter, compared to analysts’ expectations of $129.56 million. During the same quarter in the previous year, the business posted $0.98 EPS. Turning Point Brands’s revenue was up 22.6% compared to the same quarter last year. As a group, equities analysts expect that Turning Point Brands will post 1.19 EPS for the current fiscal year.

Institutional Trading of Turning Point Brands

Institutional investors have recently made changes to their positions in the stock. Operose Advisors LLC bought a new stake in shares of Turning Point Brands in the second quarter worth approximately $42,000. Sterling Capital Management LLC raised its holdings in shares of Turning Point Brands by 566.7% during the third quarter. Sterling Capital Management LLC now owns 620 shares of the company’s stock valued at $36,000 after purchasing an additional 527 shares during the last quarter. GAMMA Investing LLC lifted its position in Turning Point Brands by 103.3% during the third quarter. GAMMA Investing LLC now owns 681 shares of the company’s stock valued at $40,000 after purchasing an additional 346 shares during the period. Fifth Third Bancorp bought a new position in Turning Point Brands during the first quarter valued at approximately $126,000. Finally, Quantbot Technologies LP purchased a new stake in Turning Point Brands in the second quarter worth approximately $209,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

About Turning Point Brands

Turning Point Brands, Inc is a consumer products company focused on the manufacture, marketing and distribution of branded products for adult consumers. Its portfolio includes rolling papers, wraps, cigarette papers, smoking accessories, smokeless tobacco and modern oral nicotine products.

The company’s principal brands include Zig-Zag, a long-standing brand of rolling papers and related accessories, and Stoker’s, which offers moist smokeless tobacco and other tobacco products. Turning Point Brands also develops and markets newer nicotine products, including nicotine pouches, through its NewGen Products business.

Turning Point Brands serves retailers and consumers primarily in the United States through convenience stores, tobacco and specialty retailers, mass merchants, e-commerce channels and other distribution networks.