Tecnoglass Inc. to Issue Quarterly Dividend of $0.15 (NASDAQ:TGLS)

Tecnoglass Inc. (NASDAQ:TGLS - Get Free Report) announced a quarterly dividend on Wednesday, June 11th, Wall Street Journal reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.15 per share on Thursday, July 31st. This represents a $0.60 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Monday, June 30th.

Tecnoglass has a dividend payout ratio of 12.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Tecnoglass to earn $4.18 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 14.4%.

Tecnoglass Stock Down 4.2%

NASDAQ TGLS traded down $3.59 during trading on Friday, reaching $82.11. 266,064 shares of the company's stock were exchanged, compared to its average volume of 362,919. Tecnoglass has a fifty-two week low of $40.94 and a fifty-two week high of $90.34. The firm has a market capitalization of $3.86 billion, a PE ratio of 25.66 and a beta of 1.84. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The company's fifty day simple moving average is $78.48 and its 200-day simple moving average is $76.83.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.10. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. During the same quarter last year, the firm posted $0.66 earnings per share. Tecnoglass's quarterly revenue was up 15.4% on a year-over-year basis. Sell-side analysts predict that Tecnoglass will post 3.53 EPS for the current year.

Institutional Investors Weigh In On Tecnoglass

A number of hedge funds and other institutional investors have recently made changes to their positions in TGLS. Intech Investment Management LLC raised its stake in shares of Tecnoglass by 21.4% during the 1st quarter. Intech Investment Management LLC now owns 17,918 shares of the company's stock worth $1,282,000 after purchasing an additional 3,161 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Tecnoglass by 25.8% in the 1st quarter. AQR Capital Management LLC now owns 3,505 shares of the company's stock valued at $251,000 after acquiring an additional 719 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Tecnoglass by 8.3% in the 1st quarter. Royal Bank of Canada now owns 3,121 shares of the company's stock valued at $224,000 after acquiring an additional 238 shares in the last quarter. 37.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, B. Riley began coverage on Tecnoglass in a research note on Friday, May 16th. They set a "buy" rating and a $100.00 price target for the company. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tecnoglass currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

About Tecnoglass

Tecnoglass Inc manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally. The company provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.