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

Tecnoglass Inc. (NASDAQ:TGLS) declared a quarterly dividend on Wednesday, December 11th,NASDAQ Dividends reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.15 per share on Friday, January 31st. This represents a $0.60 annualized dividend and a yield of 0.71%. 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 increased its dividend by an average of 48.5% per year over the last three years. Tecnoglass has a dividend payout ratio of 10.3% 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 $0.44 annual dividend with an expected future payout ratio of 10.5%.

Tecnoglass Price Performance

Shares of NASDAQ:TGLS traded down $0.89 during trading on Thursday, hitting $84.63. 258,931 shares of the company’s stock were exchanged, compared to its average volume of 362,142. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 26.45 and a beta of 1.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. Tecnoglass has a 52-week low of $38.60 and a 52-week high of $86.08. The business’s 50-day simple moving average is $75.08 and its 200 day simple moving average is $62.26.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.11. The company 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%. Tecnoglass’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 earnings per share. As a group, equities analysts predict that Tecnoglass will post 3.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com assumed coverage on shares of Tecnoglass in a research report on Friday, December 6th. They set a “hold” rating for the company. Sidoti lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a report on Tuesday, October 22nd. B. Riley restated a “neutral” rating and set a $72.00 target price (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Raymond James cut Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Finally, DA Davidson upped their price objective on shares of Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $77.40.

Insider Activity at Tecnoglass

In other news, Director Julio A. Torres sold 30,520 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total transaction of $2,222,771.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total value of $104,573,402.40. Following the sale, the insider now owns 23,195,988 shares in the company, 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. 0.25% of the stock is owned by insiders.

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.