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

Turning Point Brands, Inc. (NYSE:TPB) announced a quarterly dividend on Monday, July 27th. Investors of record on Friday, September 18th will be paid a dividend of 0.08 per share on Friday, October 9th. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, September 18th.

Turning Point Brands has increased its dividend payment by an average of 0.1%per year 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% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Turning Point Brands to earn $2.24 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 14.3%.

Turning Point Brands Price Performance

Shares of TPB stock opened at $78.67 on Tuesday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 26.76 and a beta of 0.92. Turning Point Brands has a 12 month low of $65.80 and a 12 month high of $146.90. The company has a quick ratio of 4.05, a current ratio of 5.87 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average price of $83.94 and a 200 day moving average price of $95.22.

Turning Point Brands (NYSE:TPB) last released its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The company had revenue of $124.28 million for the quarter, compared to the consensus estimate of $115.67 million. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The company’s revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 EPS. Research analysts expect that Turning Point Brands will post 1.39 EPS for the current year.

Insider Activity at Turning Point Brands

In related news, CAO Brian Wigginton sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total transaction of $366,680.00. Following the sale, the chief accounting officer owned 9,230 shares of the company’s stock, valued at approximately $846,114.10. This trade represents a 30.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Turning Point Brands

Hedge funds have recently modified their holdings of the business. Lord Abbett & CO. LLC bought a new stake in Turning Point Brands during the 4th quarter worth approximately $28,454,000. Madison Avenue Partners LP acquired a new stake in shares of Turning Point Brands during the fourth quarter worth $26,853,000. Wellington Management Group LLP acquired a new stake in shares of Turning Point Brands during the third quarter worth $20,788,000. First Trust Advisors LP lifted its position in Turning Point Brands by 72.4% in the 4th quarter. First Trust Advisors LP now owns 494,262 shares of the company’s stock valued at $53,578,000 after acquiring an additional 207,604 shares in the last quarter. Finally, Copeland Capital Management LLC boosted its stake in Turning Point Brands by 29,795.8% in the 4th quarter. Copeland Capital Management LLC now owns 204,188 shares of the company’s stock worth $22,134,000 after purchasing an additional 203,505 shares during the period. Institutional investors and hedge funds own 96.12% of the company’s stock.

About Turning Point Brands

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.