Tecnoglass Inc. (TGLS) To Go Ex-Dividend on March 27th

Tecnoglass Inc. (NASDAQ:TGLS) declared a quarterly dividend on Thursday, February 29th, NASDAQ reports. Stockholders of record on Friday, March 29th will be paid a dividend of 0.11 per share on Tuesday, April 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.09.

Tecnoglass has increased its dividend by an average of 48.5% per year over the last three years and has raised its dividend every year for the last 4 years. Tecnoglass has a payout ratio of 10.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Tecnoglass to earn $4.18 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 10.5%.

Tecnoglass Stock Down 1.2 %

Shares of NASDAQ TGLS opened at $52.26 on Monday. Tecnoglass has a one year low of $28.21 and a one year high of $54.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.27 and a quick ratio of 1.60. The business’s fifty day moving average price is $45.75 and its 200-day moving average price is $39.91. The stock has a market capitalization of $2.46 billion, a PE ratio of 13.13 and a beta of 1.79.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. Tecnoglass had a return on equity of 38.92% and a net margin of 21.95%. The company had revenue of $194.60 million for the quarter, compared to analyst estimates of $199.93 million. On average, equities research analysts anticipate that Tecnoglass will post 3.7 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Raymond James & Associates purchased a new position in shares of Tecnoglass in the fourth quarter worth $213,000. Advisor Group Holdings Inc. raised its stake in shares of Tecnoglass by 69.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 6,078 shares of the company’s stock worth $187,000 after purchasing an additional 2,495 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Tecnoglass in the first quarter worth $166,000. PNC Financial Services Group Inc. raised its stake in shares of Tecnoglass by 2,588.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,285 shares of the company’s stock worth $118,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Tecnoglass by 362.6% in the fourth quarter. Wells Fargo & Company MN now owns 3,386 shares of the company’s stock worth $104,000 after purchasing an additional 2,654 shares during the last quarter. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Stifel Nicolaus cut Tecnoglass from a “buy” rating to a “hold” rating and lowered their price target for the company from $48.00 to $45.00 in a report on Wednesday, February 14th. DA Davidson reissued a “buy” rating and set a $50.00 price objective on shares of Tecnoglass in a report on Monday, March 4th.

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 offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.