Turning Point Brands Inc Announces Quarterly Dividend of $0.04 (TPB)

Turning Point Brands Inc (NYSE:TPB) announced a quarterly dividend on Wednesday, August 8th, Wall Street Journal reports. Shareholders of record on Friday, September 21st will be paid a dividend of 0.04 per share on Friday, October 12th. This represents a $0.16 annualized dividend and a yield of 0.55%. The ex-dividend date is Thursday, September 20th.

NYSE:TPB traded down $5.23 during trading hours on Wednesday, hitting $28.87. 315,304 shares of the stock traded hands, compared to its average volume of 77,584. The company has a quick ratio of 0.61, a current ratio of 2.53 and a debt-to-equity ratio of 3.43. Turning Point Brands has a fifty-two week low of $14.78 and a fifty-two week high of $34.88. The company has a market cap of $654.09 million, a P/E ratio of 26.87 and a beta of 0.87.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Wednesday, August 8th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. Turning Point Brands had a net margin of 7.29% and a return on equity of 52.48%. The company had revenue of $81.10 million for the quarter, compared to the consensus estimate of $82.40 million. During the same period in the previous year, the business earned $0.38 EPS. The company’s revenue was up 12.5% on a year-over-year basis. equities research analysts anticipate that Turning Point Brands will post 1.68 earnings per share for the current year.

Several analysts have issued reports on TPB shares. Zacks Investment Research downgraded shares of Turning Point Brands from a “hold” rating to a “sell” rating in a research note on Thursday, May 10th. B. Riley boosted their target price on shares of Turning Point Brands from $30.00 to $34.00 and gave the company a “$32.61” rating in a research note on Wednesday, July 18th.

In other news, insider James Wells Dobbins sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the insider now directly owns 89,041 shares of the company’s stock, valued at $2,226,025. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder General L.P. Standard purchased 50,000 shares of the company’s stock in a transaction dated Friday, June 8th. The stock was bought at an average cost of $28.16 per share, for a total transaction of $1,408,000.00. The disclosure for this purchase can be found here. 6.90% of the stock is owned by insiders.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products primarily in the United States. It operates through three segments: Smokeless Products, Smoking Products, and NewGen Products. The Smokeless Products segment manufactures and markets moist snuff; and contracts for and markets loose leaf chewing tobacco products.

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