Tecnoglass (NASDAQ:TGLS) Shares Up 5.4% – Should You Buy?

Shares of Tecnoglass Inc. (NASDAQ:TGLS) rose 5.4% during trading on Monday . The company traded as high as $71.68 and last traded at $71.89. Approximately 20,110 shares changed hands during trading, a decline of 94% from the average daily volume of 355,099 shares. The stock had previously closed at $68.23.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Tecnoglass in a research report on Saturday, December 14th. They issued a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $77.40.

Tecnoglass Price Performance

The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 21.82 and a beta of 1.94. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The stock has a 50-day simple moving average of $74.67 and a 200 day simple moving average of $74.01.

Tecnoglass Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.15 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 0.86%. Tecnoglass’s dividend payout ratio is presently 17.49%.

Institutional Investors Weigh In On Tecnoglass

A number of institutional investors have recently modified their holdings of TGLS. Principal Financial Group Inc. purchased a new position in Tecnoglass in the third quarter valued at about $2,211,000. Atria Investments Inc increased its holdings in Tecnoglass by 43.0% in the third quarter. Atria Investments Inc now owns 7,071 shares of the company’s stock worth $485,000 after buying an additional 2,125 shares during the last quarter. Intech Investment Management LLC bought a new position in Tecnoglass during the third quarter valued at approximately $509,000. Charles Schwab Investment Management Inc. lifted its stake in Tecnoglass by 8.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 183,400 shares of the company’s stock valued at $12,592,000 after acquiring an additional 13,803 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Tecnoglass by 74.2% in the third quarter. BNP Paribas Financial Markets now owns 14,097 shares of the company’s stock valued at $968,000 after acquiring an additional 6,005 shares during the last quarter. Institutional investors and hedge funds own 37.35% of the company’s stock.

About Tecnoglass

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.