Tecnoglass (NASDAQ:TGLS) Sees Unusually-High Trading Volume

Shares of Tecnoglass Inc. (NASDAQ:TGLS) saw an uptick in trading volume on Tuesday . 171,099 shares traded 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.

Analysts Set New Price Targets

TGLS has been the topic of several recent analyst reports. Sidoti cut shares of Tecnoglass from a “buy” rating to a “neutral” rating and lifted their price target for the company from $56.00 to $59.00 in a report on Wednesday, May 1st. Robert W. Baird cut their target price on shares of Tecnoglass from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Tuesday. DA Davidson restated a “buy” rating and issued a $50.00 price objective on shares of Tecnoglass in a report on Monday, March 4th. B. Riley upped their target price on Tecnoglass from $51.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Finally, Stifel Nicolaus cut Tecnoglass from a “buy” rating to a “hold” rating and lowered their target price for the company from $48.00 to $45.00 in a research note on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tecnoglass has an average rating of “Moderate Buy” and a consensus target price of $54.67.

Tecnoglass Trading Down 0.4 %

The stock has a market cap of $2.43 billion, a PE ratio of 13.43 and a beta of 1.79. 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 stock’s fifty day moving average price is $52.03 and its 200 day moving average price is $44.73.

Tecnoglass (NASDAQ:TGLS) last issued its 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. Tecnoglass had a return on equity of 38.92% and a net margin of 21.95%. The business had revenue of $194.60 million for the quarter, compared to the consensus estimate of $199.93 million. On average, sell-side analysts forecast that Tecnoglass Inc. will post 3.7 EPS for the current year.

Tecnoglass Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a $0.11 dividend. This is an increase from Tecnoglass’s previous quarterly dividend of $0.09. The ex-dividend date was Wednesday, March 27th. This represents a $0.44 dividend on an annualized basis and a yield of 0.85%. Tecnoglass’s dividend payout ratio is currently 11.43%.

Institutional Investors Weigh In On Tecnoglass

Hedge funds and other institutional investors have recently modified their holdings of the stock. William Blair Investment Management LLC grew its stake in shares of Tecnoglass by 232.8% during the 1st quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock valued at $84,017,000 after acquiring an additional 1,129,603 shares during the period. American Century Companies Inc. increased its holdings in Tecnoglass by 84.6% in the 3rd quarter. American Century Companies Inc. now owns 2,105,685 shares of the company’s stock valued at $69,403,000 after acquiring an additional 965,316 shares during the last quarter. Owls Nest Partners IA LLC lifted its stake in Tecnoglass by 200.1% in the 4th quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock worth $26,410,000 after purchasing an additional 385,265 shares in the last quarter. Cooke & Bieler LP boosted its holdings in shares of Tecnoglass by 35.8% during the 4th quarter. Cooke & Bieler LP now owns 1,300,179 shares of the company’s stock valued at $59,431,000 after purchasing an additional 342,451 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Tecnoglass by 58.8% in the fourth quarter. Victory Capital Management Inc. now owns 815,756 shares of the company’s stock worth $37,288,000 after purchasing an additional 302,163 shares during the last quarter. 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.