Tecnoglass Inc. (NASDAQ:TGLS) Raises Dividend to $0.08 Per Share

Tecnoglass Inc. (NASDAQ:TGLS – Get Rating) announced a quarterly dividend on Friday, August 5th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Thursday, September 29th. This is an increase from Tecnoglass’s previous quarterly dividend of $0.07.

Tecnoglass Stock Performance

Shares of TGLS opened at $24.06 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.16 and a debt-to-equity ratio of 0.66. Tecnoglass has a 52 week low of $16.05 and a 52 week high of $34.90. The business has a 50-day simple moving average of $19.58 and a two-hundred day simple moving average of $21.35. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 10.54 and a beta of 1.90.

Tecnoglass (NASDAQ:TGLS – Get Rating) last released its earnings results 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 analysts’ expectations of $132.03 million. During the same quarter last year, the business posted $0.35 earnings per share. On average, analysts expect that Tecnoglass will post 2.24 EPS for the current year.

Institutional Investors Weigh In On Tecnoglass

A number of institutional investors and hedge funds have recently modified their holdings of TGLS. BlackRock Inc. raised its position in Tecnoglass by 107.4% during the 1st quarter. BlackRock Inc. now owns 994,989 shares of the company’s stock valued at $25,114,000 after purchasing an additional 515,151 shares in the last quarter. Sei Investments Co. raised its position in Tecnoglass by 45.1% during the 1st quarter. Sei Investments Co. now owns 265,750 shares of the company’s stock valued at $6,708,000 after purchasing an additional 82,567 shares in the last quarter. Renaissance Technologies LLC raised its position in Tecnoglass by 11.8% during the 1st quarter. Renaissance Technologies LLC now owns 122,500 shares of the company’s stock valued at $3,092,000 after purchasing an additional 12,900 shares in the last quarter. State Street Corp raised its position in 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 purchasing an additional 1,138 shares in the last quarter. Finally, Wexford Capital LP raised its position in Tecnoglass by 10.7% during the 1st quarter. Wexford Capital LP now owns 41,183 shares of the company’s stock valued at $1,039,000 after purchasing an additional 3,992 shares in the last quarter. 22.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, B. Riley increased their target price on Tecnoglass from $32.00 to $34.00 in a research report on Friday. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tecnoglass presently has a consensus rating of “Buy” and an average price target of $34.00.

About Tecnoglass

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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.