Tecnoglass Inc. (TGLS) to Issue Quarterly Dividend of $0.15 on January 31st

Tecnoglass Inc. (NASDAQ:TGLS) declared a quarterly dividend on Wednesday, December 11th,NASDAQ Dividends reports. Stockholders 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 0.73%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost 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 payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Tecnoglass to earn $4.19 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 14.3%.

Tecnoglass Price Performance

Shares of NASDAQ:TGLS opened at $82.04 on Friday. The company has a market cap of $3.86 billion, a PE ratio of 25.64 and a beta of 1.89. Tecnoglass has a fifty-two week low of $40.94 and a fifty-two week high of $86.08. The firm has a 50-day simple moving average of $77.01 and a 200 day simple moving average of $64.92. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20.

Tecnoglass (NASDAQ:TGLS) last posted its earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.97 by $0.11. The company had revenue of $237.90 million during the quarter, compared to analyst estimates of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. On average, sell-side analysts anticipate that Tecnoglass will post 3.55 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Sidoti downgraded shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a report on Tuesday, October 22nd. Raymond James lowered shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. B. Riley restated a “neutral” rating and issued a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. StockNews.com initiated coverage on Tecnoglass in a report on Saturday, December 14th. They set a “hold” rating on the stock. Finally, DA Davidson increased their price objective on Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $77.40.

Insider Activity

In other Tecnoglass news, Director Julio A. Torres sold 30,520 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total value of $2,222,771.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’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 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 position. The disclosure for this sale can be found here. Insiders own 0.25% 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.