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

Tecnoglass Inc. (NYSE:TGLS) announced a quarterly dividend on Wednesday, March 18th. Shareholders of record on Tuesday, March 31st will be paid a dividend of 0.15 per share on Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 31st.

Tecnoglass has increased its dividend payment by an average of 0.4%annually over the last three years and has increased its dividend every year for the last 4 years. Tecnoglass has a dividend payout ratio of 12.4% indicating that its dividend is sufficiently covered by earnings.

Tecnoglass Stock Down 3.2%

TGLS opened at $43.51 on Thursday. The company has a market capitalization of $1.95 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.57 and a beta of 1.72. The firm has a 50-day simple moving average of $49.38 and a two-hundred day simple moving average of $54.95. The company has a quick ratio of 1.25, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. Tecnoglass has a 52 week low of $40.09 and a 52 week high of $90.34.

Tecnoglass (NYSE:TGLS) last issued its earnings results on Thursday, February 26th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.21). Tecnoglass had a return on equity of 23.05% and a net margin of 16.22%.The firm had revenue of $245.30 million during the quarter. During the same quarter last year, the business earned $1.05 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis.

Insiders Place Their Bets

In other news, major shareholder Holding Corp Energy acquired 107,629 shares of the company’s stock in a transaction on Friday, March 13th. The stock was bought at an average cost of $45.11 per share, with a total value of $4,855,144.19. Following the completion of the purchase, the insider directly owned 20,731,985 shares of the company’s stock, valued at $935,219,843.35. This represents a 0.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne Louise Carricarte acquired 1,100 shares of the business’s stock in a transaction on Friday, March 6th. The shares were purchased at an average price of $43.27 per share, for a total transaction of $47,597.00. Following the transaction, the director directly owned 1,100 shares of the company’s stock, valued at approximately $47,597. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 522,995 shares of company stock valued at $22,912,205. 0.06% of the stock is owned by corporate insiders.

Institutional Trading of Tecnoglass

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of Tecnoglass by 8.3% during the first quarter. Royal Bank of Canada now owns 3,121 shares of the company’s stock valued at $224,000 after buying an additional 238 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Tecnoglass by 25.8% during the 1st quarter. AQR Capital Management LLC now owns 3,505 shares of the company’s stock worth $251,000 after acquiring an additional 719 shares during the last quarter. Intech Investment Management LLC boosted its holdings in Tecnoglass by 21.4% during the 1st quarter. Intech Investment Management LLC now owns 17,918 shares of the company’s stock valued at $1,282,000 after acquiring an additional 3,161 shares during the period. Geode Capital Management LLC boosted its holdings in Tecnoglass by 5.5% during the 2nd quarter. Geode Capital Management LLC now owns 557,729 shares of the company’s stock valued at $43,154,000 after acquiring an additional 29,281 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey grew its position in Tecnoglass by 15.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,604 shares of the company’s stock valued at $434,000 after acquiring an additional 739 shares during the last quarter. Institutional investors own 37.35% of the company’s stock.

About Tecnoglass

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.