Tecnoglass Inc. (NASDAQ:TGLS) to Issue Dividend Increase – $0.08 Per Share

Tecnoglass Inc. (NASDAQ:TGLSGet Rating) declared a quarterly dividend on Friday, August 5th, Wall Street Journal reports. Investors of record on Friday, September 30th will be paid a dividend of 0.075 per share on Monday, October 31st. This represents a $0.30 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, September 29th. This is an increase from Tecnoglass’s previous quarterly dividend of $0.07.

Tecnoglass Trading Up 5.2 %

Shares of Tecnoglass stock opened at $24.06 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.16 and a quick ratio of 1.51. Tecnoglass has a 1 year low of $16.05 and a 1 year high of $34.90. The company has a market capitalization of $1.15 billion, a P/E ratio of 10.54 and a beta of 1.90. The business has a 50 day moving average price of $19.58 and a 200 day moving average price of $21.35.

Tecnoglass (NASDAQ:TGLSGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.06. Tecnoglass had a return on equity of 41.06% and a net margin of 16.74%. The firm had revenue of $134.55 million during the quarter, compared to the consensus estimate of $132.03 million. During the same period in the previous year, the firm posted $0.35 EPS. Sell-side analysts anticipate that Tecnoglass will post 2.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, B. Riley lifted their target price on shares of Tecnoglass from $32.00 to $34.00 in a research note on Friday. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tecnoglass has a consensus rating of “Buy” and a consensus target price of $34.00.

Institutional Trading of Tecnoglass

Several institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Tecnoglass by 6.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 19,224 shares of the company’s stock valued at $485,000 after acquiring an additional 1,106 shares in the last quarter. State Street Corp lifted its holdings in shares of Tecnoglass by 1.6% during the 1st quarter. State Street Corp now owns 72,038 shares of the company’s stock valued at $1,823,000 after acquiring an additional 1,138 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new position in shares of Tecnoglass during the 1st quarter valued at $29,000. Envestnet Asset Management Inc. lifted its holdings in Tecnoglass by 18.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 20,634 shares of the company’s stock worth $362,000 after buying an additional 3,203 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in Tecnoglass by 10.7% in the 1st quarter. Royal Bank of Canada now owns 38,015 shares of the company’s stock worth $959,000 after buying an additional 3,668 shares in the last quarter. 22.40% of the stock is owned by hedge funds and other institutional investors.

Tecnoglass Company Profile

(Get Rating)

Tecnoglass Inc, through its subsidiaries, designs, produces, markets, and installs architectural systems for the commercial and residential construction industries 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.

Further Reading

Dividend History for Tecnoglass (NASDAQ:TGLS)

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