Raymond James & Associates Lowers Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

Raymond James & Associates decreased its holdings in Tecnoglass Inc. (NASDAQ:TGLS) by 26.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,421 shares of the company’s stock after selling 10,435 shares during the quarter. Raymond James & Associates owned 0.06% of Tecnoglass worth $1,299,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. B. Riley raised their price objective on shares of Tecnoglass from $51.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Stifel Nicolaus cut shares of 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. DA Davidson reaffirmed a “buy” rating and issued a $50.00 target price on shares of Tecnoglass in a report on Monday, March 4th. Finally, Robert W. Baird raised their target price on shares of Tecnoglass from $56.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Tecnoglass Stock Down 3.2 %

TGLS stock opened at $54.72 on Friday. The company has a current ratio of 2.27, a quick ratio of 1.60 and a debt-to-equity ratio of 0.30. Tecnoglass Inc. has a twelve month low of $28.21 and a twelve month high of $59.76. The company’s 50 day moving average is $49.45 and its two-hundred day moving average is $42.71. The stock has a market cap of $2.57 billion, a P/E ratio of 14.21 and a beta of 1.80.

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

Tecnoglass Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.44 dividend on an annualized basis and a yield of 0.80%. This is a boost from Tecnoglass’s previous quarterly dividend of $0.09. Tecnoglass’s dividend payout ratio (DPR) is presently 11.43%.

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.