Tecnoglass (NASDAQ:TGLS) Trading Up 5.4% – Here’s Why

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

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Tecnoglass in a report on Saturday, December 14th. They issued a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Tecnoglass currently has a consensus rating of “Hold” and a consensus price target of $77.40.

Tecnoglass Trading Up 3.4 %

The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $3.31 billion, a P/E ratio of 22.04 and a beta of 1.94. The firm’s 50-day simple moving average is $74.91 and its 200-day simple moving average is $73.89.

Tecnoglass Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.85%. The ex-dividend date is Monday, March 31st. Tecnoglass’s dividend payout ratio (DPR) is currently 17.49%.

Hedge Funds Weigh In On Tecnoglass

Several institutional investors have recently modified their holdings of TGLS. Principal Financial Group Inc. bought a new position in Tecnoglass during the third quarter valued at approximately $2,211,000. Atria Investments Inc boosted its stake in shares of Tecnoglass by 43.0% in the 3rd quarter. Atria Investments Inc now owns 7,071 shares of the company’s stock valued at $485,000 after purchasing an additional 2,125 shares in the last quarter. Chesapeake Capital Corp IL bought a new position in shares of Tecnoglass during the 3rd quarter valued at $455,000. Intech Investment Management LLC purchased a new position in Tecnoglass in the 3rd quarter worth $509,000. Finally, 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 worth $12,592,000 after purchasing an additional 13,803 shares during the last quarter. 37.35% of the stock is currently owned by institutional investors.

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.