Tecnoglass (NASDAQ:TGLS) Sees Strong Trading Volume

Tecnoglass Inc. (NASDAQ:TGLS) shares saw unusually-high trading volume on Tuesday . Approximately 171,099 shares changed hands during trading, a decline of 49% from the previous session’s volume of 335,352 shares.The stock last traded at $52.77 and had previously closed at $55.12.

Wall Street Analyst Weigh In

TGLS has been the subject of a number of analyst reports. B. Riley upped their price target on Tecnoglass from $51.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. DA Davidson reaffirmed a “buy” rating and set a $50.00 target price on shares of Tecnoglass in a research note on Monday, March 4th. Robert W. Baird dropped their price target on shares of Tecnoglass from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Tuesday. Stifel Nicolaus cut shares of Tecnoglass from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $48.00 to $45.00 in a research report on Wednesday, February 14th. Finally, Sidoti lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and lifted their target price for the company from $56.00 to $59.00 in a research report on Wednesday, May 1st. Three equities research 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.67.

Tecnoglass Stock Performance

The company has a market cap of $2.43 billion, a price-to-earnings ratio of 13.22 and a beta of 1.79. The stock’s fifty day simple moving average is $51.72 and its 200 day simple moving average is $44.50. 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 (NASDAQ:TGLS) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.75 by $0.05. The firm had revenue of $194.60 million during the quarter, compared to analysts’ expectations of $199.93 million. Tecnoglass had a return on equity of 38.92% and a net margin of 21.95%. As a group, analysts anticipate that Tecnoglass Inc. will post 3.7 earnings per share for the current year.

Tecnoglass Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a dividend of $0.11 per share. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Wednesday, March 27th. Tecnoglass’s dividend payout ratio (DPR) is currently 11.43%.

Institutional Trading of Tecnoglass

A number of large investors have recently made changes to their positions in the company. SummerHaven Investment Management LLC boosted its holdings in Tecnoglass by 1.9% in the 4th quarter. SummerHaven Investment Management LLC now owns 13,169 shares of the company’s stock valued at $602,000 after purchasing an additional 250 shares in the last quarter. Moran Wealth Management LLC lifted its stake in shares of Tecnoglass by 5.6% in the 4th quarter. Moran Wealth Management LLC now owns 8,914 shares of the company’s stock valued at $407,000 after purchasing an additional 472 shares in the last quarter. Riverwater Partners LLC lifted its holdings in shares of Tecnoglass by 1.1% during the 4th quarter. Riverwater Partners LLC now owns 52,541 shares of the company’s stock valued at $2,410,000 after acquiring an additional 565 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Tecnoglass by 7.3% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 9,126 shares of the company’s stock valued at $301,000 after buying an additional 622 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Tecnoglass by 27.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,917 shares of the company’s stock valued at $96,000 after purchasing an additional 632 shares during the period. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

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.