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

Tecnoglass Inc. (NASDAQ:TGLS) declared a quarterly dividend on Wednesday, March 12th, RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.15 per share on Wednesday, April 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.91%.

Tecnoglass has raised its dividend by an average of 48.2% annually over the last three years. Tecnoglass has a dividend payout ratio of 12.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Tecnoglass to earn $4.18 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 14.4%.

Tecnoglass Trading Up 2.3 %

Shares of NASDAQ TGLS traded up $1.50 during trading hours on Wednesday, hitting $66.21. The company’s stock had a trading volume of 140,768 shares, compared to its average volume of 354,061. The business has a 50-day simple moving average of $75.57 and a 200-day simple moving average of $73.79. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 20.69 and a beta of 1.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. Tecnoglass has a 12 month low of $40.94 and a 12 month high of $86.99.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. StockNews.com assumed coverage on shares of Tecnoglass in a research note on Saturday, December 14th. They set a “hold” rating on the stock. DA Davidson increased their target price on Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $77.40.

Tecnoglass Company Profile

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.