SummerHaven Investment Management LLC Increases Stake in Tecnoglass Inc. (NASDAQ:TGLS)

SummerHaven Investment Management LLC boosted its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,169 shares of the company’s stock after purchasing an additional 250 shares during the period. SummerHaven Investment Management LLC’s holdings in Tecnoglass were worth $602,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Linden Thomas Advisory Services LLC grew its position in Tecnoglass by 26.6% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 8,858 shares of the company’s stock valued at $405,000 after acquiring an additional 1,859 shares during the period. Handelsbanken Fonder AB purchased a new stake in shares of Tecnoglass during the 4th quarter worth about $201,000. Cooke & Bieler LP increased its position in Tecnoglass by 35.8% during the 4th quarter. Cooke & Bieler LP now owns 1,300,179 shares of the company’s stock worth $59,431,000 after purchasing an additional 342,451 shares in the last quarter. Cornerstone Investment Partners LLC acquired a new stake in Tecnoglass during the 4th quarter worth approximately $258,000. Finally, Calamos Advisors LLC lifted its position in Tecnoglass by 3.3% during the fourth quarter. Calamos Advisors LLC now owns 105,491 shares of the company’s stock valued at $4,822,000 after buying an additional 3,343 shares in the last quarter. Institutional investors and hedge funds own 37.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. DA Davidson reissued a “buy” rating and issued a $50.00 price objective on shares of Tecnoglass in a research report on Monday, March 4th. Stifel Nicolaus downgraded shares of Tecnoglass from a “buy” rating to a “hold” rating and dropped their target price for the stock from $48.00 to $45.00 in a research report on Wednesday, February 14th. B. Riley upped their target price 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. Finally, Robert W. Baird lifted their price target on Tecnoglass from $56.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Tecnoglass Stock Up 2.0 %

Shares of NASDAQ:TGLS opened at $56.64 on Tuesday. The company’s fifty day moving average is $50.74 and its two-hundred day moving average is $43.75. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.60 and a current ratio of 2.27. Tecnoglass Inc. has a 1-year low of $28.21 and a 1-year high of $59.76. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 13.96 and a beta of 1.80.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.80 earnings per share for the quarter, beating 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 business had revenue of $194.60 million during the quarter, compared to the consensus estimate of $199.93 million. Equities analysts anticipate that Tecnoglass Inc. will post 3.7 EPS for the current year.

Tecnoglass Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.44 dividend on an annualized basis and a yield of 0.78%. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.09. Tecnoglass’s payout ratio is currently 11.43%.

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.