Cornerstone Investment Partners LLC Invests $258,000 in Tecnoglass Inc. (NASDAQ:TGLS)

Cornerstone Investment Partners LLC purchased a new position in shares of Tecnoglass Inc. (NASDAQ:TGLS) during the fourth quarter, Holdings Channel.com reports. The fund purchased 5,645 shares of the company’s stock, valued at approximately $258,000.

Other large investors have also modified their holdings of the company. Thompson Siegel & Walmsley LLC purchased a new stake in Tecnoglass in the third quarter valued at approximately $26,000. Tower Research Capital LLC TRC purchased a new stake in Tecnoglass in the third quarter valued at approximately $28,000. BNP Paribas Arbitrage SA purchased a new stake in Tecnoglass in the first quarter valued at approximately $29,000. BNP Paribas Arbitrage SNC purchased a new stake in Tecnoglass in the third quarter valued at approximately $65,000. Finally, Castleview Partners LLC acquired a new position in Tecnoglass in the first quarter valued at approximately $66,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Tecnoglass Price Performance

Shares of TGLS stock traded down $0.40 during trading hours on Friday, hitting $56.14. 226,772 shares of the company’s stock were exchanged, compared to its average volume of 348,267. The company has a quick ratio of 1.60, a current ratio of 2.27 and a debt-to-equity ratio of 0.30. The firm has a market cap of $2.64 billion, a P/E ratio of 14.36 and a beta of 1.80. The firm has a 50 day moving average of $49.33 and a two-hundred day moving average of $42.55. Tecnoglass Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $59.76.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.75 by $0.05. Tecnoglass had a return on equity of 38.92% and a net margin of 21.95%. The firm had revenue of $194.60 million during the quarter, compared to analysts’ expectations of $199.93 million. Sell-side analysts forecast that Tecnoglass Inc. will post 3.7 EPS for the current year.

Tecnoglass Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.78%. This is a boost from Tecnoglass’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Wednesday, March 27th. Tecnoglass’s payout ratio is presently 11.43%.

Analyst Upgrades and Downgrades

TGLS has been the subject of a number of analyst reports. DA Davidson reissued a “buy” rating and issued a $50.00 price target on shares of Tecnoglass in a report on Monday, March 4th. Stifel Nicolaus downgraded Tecnoglass from a “buy” rating to a “hold” rating and decreased their price target for the company from $48.00 to $45.00 in a report on Wednesday, February 14th. B. Riley boosted their price target on Tecnoglass from $51.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Finally, Robert W. Baird upped their target price on Tecnoglass from $56.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tecnoglass has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Tecnoglass 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.