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

Tecnoglass Inc. (NASDAQ:TGLS) announced a quarterly dividend on Wednesday, December 11th,NASDAQ Dividends reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.15 per share on Friday, January 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11.

Tecnoglass has raised its dividend payment by an average of 48.5% per year over the last three years. Tecnoglass has a dividend payout ratio of 10.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Tecnoglass to earn $4.19 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 10.5%.

Tecnoglass Stock Performance

TGLS stock traded down $0.89 during midday trading on Thursday, reaching $84.63. 258,931 shares of the company’s stock traded hands, compared to its average volume of 362,142. The company has a 50-day moving average price of $75.08 and a two-hundred day moving average price of $62.26. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. Tecnoglass has a 52 week low of $38.60 and a 52 week high of $86.08. The firm has a market capitalization of $3.98 billion, a PE ratio of 26.49 and a beta of 1.89.

Tecnoglass (NASDAQ:TGLS) last issued its earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.11. The business had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $240.19 million. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 EPS. As a group, equities analysts anticipate that Tecnoglass will post 3.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TGLS. Raymond James cut shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. B. Riley reaffirmed a “neutral” rating and issued a $72.00 price target (up previously from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Robert W. Baird upped their price target on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. DA Davidson upped their target price on shares of Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Sidoti lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research report on Tuesday, October 22nd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Tecnoglass presently has a consensus rating of “Hold” and a consensus price target of $77.40.

Insider Buying and Selling at Tecnoglass

In other news, Director Julio A. Torres sold 30,520 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total transaction of $2,222,771.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the transaction, the insider now directly owns 23,195,988 shares of the company’s stock, valued at approximately $1,693,771,043.76. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% 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.