Tecnoglass (NASDAQ:TGLS) Stock Price Up 2.8%

Tecnoglass Inc. (NASDAQ:TGLS)’s stock price rose 2.8% on Monday . The company traded as high as $59.62 and last traded at $59.28. Approximately 386,931 shares were traded during trading, an increase of 12% from the average daily volume of 344,591 shares. The stock had previously closed at $57.67.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. B. Riley upped their price target on shares of Tecnoglass from $51.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. DA Davidson reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Tecnoglass in a research note on Monday, March 4th. Finally, Stifel Nicolaus downgraded Tecnoglass from a “buy” rating to a “hold” rating and reduced their target price for the company from $48.00 to $45.00 in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.80.

Tecnoglass Stock Performance

The company has a market capitalization of $2.71 billion, a P/E ratio of 14.97 and a beta of 1.80. The firm has a 50 day moving average price of $48.99 and a two-hundred day moving average price of $42.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.60 and a current ratio of 2.27.

Tecnoglass (NASDAQ:TGLS) last announced its earnings results on Thursday, February 29th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. The company had revenue of $194.60 million for the quarter, compared to analyst estimates of $199.93 million. Tecnoglass had a net margin of 21.95% and a return on equity of 38.92%. On average, research analysts expect that Tecnoglass Inc. will post 3.7 earnings per share for the current fiscal year.

Tecnoglass Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.76%. This is a boost from Tecnoglass’s previous quarterly dividend of $0.09. Tecnoglass’s dividend payout ratio is currently 11.43%.

Institutional Investors Weigh In On Tecnoglass

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. bought a new position in Tecnoglass during the fourth quarter worth about $791,000. Vanguard Group Inc. lifted its position in Tecnoglass by 6.1% during the fourth quarter. Vanguard Group Inc. now owns 313,319 shares of the company’s stock worth $14,322,000 after purchasing an additional 17,879 shares during the period. Wellington Management Group LLP boosted its position in shares of Tecnoglass by 5.6% during the 4th quarter. Wellington Management Group LLP now owns 421,086 shares of the company’s stock worth $19,248,000 after acquiring an additional 22,169 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Tecnoglass in the 4th quarter valued at $274,000. Finally, Owls Nest Partners IA LLC raised its stake in Tecnoglass by 200.1% during the fourth quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock worth $26,410,000 after acquiring an additional 385,265 shares in the last quarter. Institutional investors and hedge funds own 37.35% of the company’s stock.

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.