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. Stockholders of record on Monday, June 30th will be given a dividend of 0.15 per share on Thursday, July 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Monday, June 30th.

Tecnoglass has a payout ratio of 12.4% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NASDAQ TGLS traded down $0.53 during midday trading on Thursday, hitting $86.21. The stock had a trading volume of 5,049 shares, compared to its average volume of 362,855. The stock has a 50 day simple moving average of $77.66 and a 200-day simple moving average of $76.80. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $4.05 billion, a PE ratio of 26.94 and a beta of 1.84. Tecnoglass has a 1 year low of $40.94 and a 1 year high of $90.34.

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Tecnoglass

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

Tecnoglass Company Profile

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.