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

Tecnoglass Inc. (NASDAQ:TGLS) announced a quarterly dividend on Wednesday, June 11th, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Monday, June 30th.

Tecnoglass has a dividend payout ratio of 12.4% meaning its dividend is sufficiently covered by earnings. Equities 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 1.5%

NASDAQ TGLS opened at $86.70 on Thursday. 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 stock’s 50 day moving average is $77.66 and its two-hundred day moving average is $76.80. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 27.09 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) last announced its earnings results on Thursday, May 8th. The company reported $0.92 EPS for the quarter, topping the consensus estimate 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 in the previous year, the firm earned $0.66 EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. Equities analysts forecast that Tecnoglass will post 3.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, B. Riley assumed coverage on shares of Tecnoglass in a report on Friday, May 16th. They issued 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC grew its position in 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 acquiring an additional 3,161 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Tecnoglass by 25.8% during the first quarter. AQR Capital Management LLC now owns 3,505 shares of the company’s stock valued at $251,000 after purchasing an additional 719 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Tecnoglass by 8.3% during the first quarter. Royal Bank of Canada now owns 3,121 shares of the company’s stock valued at $224,000 after purchasing an additional 238 shares in the last quarter. Institutional investors own 37.35% of the company’s stock.

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.