Tecnoglass Inc. (NASDAQ:TGLS) declared a quarterly dividend on Monday, June 7th, Zacks reports. Investors of record on Wednesday, June 30th will be paid a dividend of 0.027 per share on Friday, July 30th. This represents a $0.11 annualized dividend and a yield of 0.54%. The ex-dividend date is Tuesday, June 29th.
Tecnoglass has decreased its dividend by 79.3% over the last three years and has raised its dividend annually for the last 1 consecutive years. Tecnoglass has a dividend payout ratio of 8.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Tecnoglass to earn $1.34 per share next year, which means the company should continue to be able to cover its $0.11 annual dividend with an expected future payout ratio of 8.2%.
NASDAQ TGLS traded down $0.18 on Wednesday, hitting $20.08. The stock had a trading volume of 931 shares, compared to its average volume of 320,274. The business has a fifty day moving average of $15.30. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.14 and a current ratio of 2.83. Tecnoglass has a 52-week low of $4.21 and a 52-week high of $24.01. The company has a market capitalization of $957.31 million, a PE ratio of 18.55, a price-to-earnings-growth ratio of 0.81 and a beta of 1.74.
In other news, Director Julio A. Torres sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, May 13th. The shares were sold at an average price of $15.87, for a total value of $317,400.00. Following the transaction, the director now directly owns 85,520 shares in the company, valued at approximately $1,357,202.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.
A hedge fund recently raised its stake in Tecnoglass stock. Morgan Stanley raised its position in Tecnoglass Inc. (NASDAQ:TGLS) by 388.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,038 shares of the company’s stock after purchasing an additional 4,006 shares during the period. Morgan Stanley’s holdings in Tecnoglass were worth $61,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 19.38% of the company’s stock.
A number of research firms recently issued reports on TGLS. Raymond James upgraded shares of Tecnoglass from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $10.00 to $15.00 in a research report on Monday, May 10th. Zacks Investment Research raised shares of Tecnoglass from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Wednesday, May 12th. B. Riley cut shares of Tecnoglass from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $17.00 to $23.00 in a research note on Wednesday, June 2nd. Robert W. Baird upped their price objective on shares of Tecnoglass from $14.00 to $18.00 and gave the company an “outperform” rating in a research note on Monday, May 10th. Finally, DA Davidson upped their price objective on shares of Tecnoglass from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, March 30th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $16.33.
Tecnoglass Company Profile
Tecnoglass Inc, through its subsidiaries, manufactures, supplies, and installs architectural glass, windows, and associated aluminum products for the commercial and residential construction industries in North, Central, and South America. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.
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