Tecnoglass (NASDAQ:TGLS) Shares Up 6.9% – Here’s What Happened

Tecnoglass Inc. (NASDAQ:TGLS)’s stock price was up 6.9% on Thursday . The company traded as high as $76.52 and last traded at $74.81. Approximately 18,326 shares changed hands during trading, a decline of 93% from the average daily volume of 273,350 shares. The stock had previously closed at $69.98.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. StockNews.com assumed coverage on Tecnoglass in a research report on Saturday, December 14th. They issued a “hold” rating on the stock. Robert W. Baird upped their target price on shares of Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, DA Davidson raised their price objective on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $77.40.

Tecnoglass Trading Down 3.5 %

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’s 50 day simple moving average is $77.51 and its two-hundred day simple moving average is $73.19. The stock has a market cap of $3.46 billion, a P/E ratio of 23.00 and a beta of 1.88.

Tecnoglass Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.82%. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, December 31st. Tecnoglass’s dividend payout ratio is presently 17.49%.

Institutional Investors Weigh In On Tecnoglass

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in shares of Tecnoglass by 49.2% during the fourth quarter. FMR LLC now owns 5,412,322 shares of the company’s stock valued at $429,305,000 after buying an additional 1,785,602 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Tecnoglass by 29.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock worth $134,994,000 after acquiring an additional 447,647 shares in the last quarter. Capital World Investors acquired a new position in shares of Tecnoglass in the 4th quarter valued at $23,530,000. Marshall Wace LLP purchased a new position in shares of Tecnoglass in the fourth quarter worth approximately $19,638,000. Finally, Invesco Ltd. grew its position in Tecnoglass by 486.8% during the 4th quarter. Invesco Ltd. now owns 147,070 shares of the company’s stock worth $11,666,000 after purchasing an additional 122,006 shares in the last quarter. 37.35% of the stock is currently owned by 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.