Turning Point Brands, Inc. (NYSE:TPB) Increases Dividend to $0.08 Per Share

Turning Point Brands, Inc. (NYSE:TPB) announced an increase in its quarterly dividend on February 26th. The company will pay its stockholders a dividend of $0.08 per share. To qualify for this payment, investors must be shareholders of record by March 21st. The dividend will be disbursed on April 11th. This marks a rise from the previous quarterly dividend of $0.07, resulting in an annualized dividend of $0.32 and a dividend yield of 0.44%.

Over the past three years, Turning Point Brands has increased its dividend at an average rate of 8.4% annually. The company maintains a solid dividend payout ratio of 8.0%, indicating that earnings can comfortably cover the dividend. Analysts project Turning Point Brands will achieve earnings of $3.09 per share in the coming year, which suggests that the future dividend obligations of $0.32 can be met with a projected payout ratio of 9.1%.

Turning Point Brands Stock Performance

During afternoon trading on Wednesday, Turning Point Brands shares rose by 0.6%, reaching $68.95. The trading volume was 187,419 shares, which is slightly below the average volume of 211,892 shares. The company holds a debt-to-equity ratio of 1.33, alongside a quick ratio of 1.78 and a current ratio of 4.21. Over the past year, the stock has experienced a low of $22.69 and a high of $70.99. Its fifty-day simple moving average stands at $61.64, while the 200-day simple moving average is $52.54. The market capitalization for Turning Point Brands is approximately $1.22 billion, with a P/E ratio of 27.36 and a beta of 0.65.

Recent Analyst Ratings

Recently, several research firms have evaluated Turning Point Brands. Roth Capital upgraded the stock to a "strong-buy" rating on November 8th. In a subsequent report on November 12th, Benchmark raised the price target from $45.00 to $65.00, maintaining a "buy" rating. Additionally, on December 5th, Craig Hallum revised their target from $60.00 to $75.00 and maintained a "buy" rating as well. However, StockNews.com changed its opinion from a "buy" to a "hold" rating on February 4th. Roth MKM reaffirmed a "buy" stance with a price target of $70.00 in a report dated January 10th. Currently, the consensus from analysts is mixed, with one rating it as a hold, four as buy, and one as a strong buy. According to MarketBeat.com, the average rating stands at "Buy" with an average price target of $68.75.

About Turning Point Brands

Turning Point Brands, Inc. is engaged in manufacturing, marketing, and distributing various branded consumer products. The company operates in three segments: Zig-Zag Products, Stoker's Products, and Creative Distribution Solutions. The Zig-Zag Products segment includes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related accessories, marketed under the Zig-Zag brand.

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