Tecnoglass (TGLS) Declares $0.09 Dividend
Tecnoglass said on March 13, 2023 that its board of directors declared a regular quarterly dividend of $0.09 per share ($0.36 annualized). Previously, the company paid $0.08 per share.
Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 28, 2023.
At the current share price of $39.67 / share, the stock's dividend yield is 0.91%. Looking back five years and taking a sample every week, the average dividend yield has been 3.56%, the lowest has been 0.33%, and the highest has been 8.89%. The standard deviation of yields is 2.82 (n=237).
The current dividend yield is 0.94 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 1.73%, demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 19.30% Upside
As of March 13, 2023, the average one-year price target for Tecnoglass is $47.33. The forecasts range from a low of $35.35 to a high of $52.50. The average price target represents an increase of 19.30% from its latest reported closing price of $39.67.
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The projected annual revenue for Tecnoglass is $796MM, an increase of 11.11%. The projected annual non-GAAP EPS is $3.53.
What is the Fund Sentiment?
There are 177 funds or institutions reporting positions in Tecnoglass. This is an increase of 18 owner(s) or 11.32% in the last quarter. Average portfolio weight of all funds dedicated to TGLS is 0.32%, a decrease of 13.05%. Total shares owned by institutions decreased in the last three months by 2.02% to 13,530K shares. The put/call ratio of TGLS is 0.52, indicating a bullish outlook.
What are Large Shareholders Doing?
American Century Companies holds 2,093K shares representing 4.39% ownership of the company. In it's prior filing, the firm reported owning 2,747K shares, representing a decrease of 31.27%. The firm decreased its portfolio allocation in TGLS by 99.90% over the last quarter.
ASVIX - Small Cap Value Fund Investor Class holds 1,690K shares representing 3.54% ownership of the company. In it's prior filing, the firm reported owning 2,220K shares, representing a decrease of 31.36%. The firm increased its portfolio allocation in TGLS by 5.27% over the last quarter.
Millennium Management holds 831K shares representing 1.74% ownership of the company. In it's prior filing, the firm reported owning 609K shares, representing an increase of 26.68%. The firm increased its portfolio allocation in TGLS by 87.06% over the last quarter.
Portolan Capital Management holds 812K shares representing 1.70% ownership of the company. In it's prior filing, the firm reported owning 1,100K shares, representing a decrease of 35.44%. The firm decreased its portfolio allocation in TGLS by 99.89% over the last quarter.
QUSOX - Pear Tree Polaris Foreign Value Small Cap Fund Ordinary Shares holds 676K shares representing 1.42% ownership of the company. No change in the last quarter.
Tecnoglass Background Information
(This description is provided by the company.)
Tecnoglass Inc. is a leading producer of architectural glass, windows, and associated aluminum products serving the multi-family, single-family and commercial end markets. Tecnoglass is the second largest glass fabricator serving the U.S. and the #1 architectural glass transformation company in Latin America. Located in Barranquilla, Colombia, the Company's 2.7 million square foot, vertically-integrated and state-of-the-art manufacturing complex provides efficient access to over 1,000 global customers, with the U.S. accounting for more than 90% of revenues. Tecnoglass' tailored, high-end products are found on some of the world's most distinctive properties, including One Thousand Museum (Miami), Paramount (Miami), Salesforce Tower (San Francisco), Via 57 West (NY), Hub50House (Boston), Aeropuerto Internacional El Dorado (Bogotá), One Plaza (Medellín), Pabellon de Cristal (Barranquilla).
This story originally appeared on Fintel.