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

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

Wall Street Analysts Forecast Growth

TGLS has been the topic of a number of recent research reports. StockNews.com initiated coverage on Tecnoglass in a research report on Saturday, December 14th. They set a “hold” rating on the stock. DA Davidson boosted 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. Finally, Robert W. Baird lifted their target price on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $77.40.

Tecnoglass Price Performance

The firm has a market capitalization of $3.65 billion, a P/E ratio of 24.29 and a beta of 1.88. The firm has a 50-day moving average of $77.70 and a 200-day moving average of $73.04. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21.

Tecnoglass Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a $0.15 dividend. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Tuesday, December 31st. Tecnoglass’s dividend payout ratio is presently 18.75%.

Institutional Trading of Tecnoglass

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its position in shares of Tecnoglass by 4,735.7% in the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after buying an additional 663 shares in the last quarter. Impax Asset Management Group plc increased its stake in Tecnoglass by 65.0% in the 3rd quarter. Impax Asset Management Group plc now owns 165,000 shares of the company’s stock worth $11,329,000 after acquiring an additional 65,000 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Tecnoglass during the 3rd quarter valued at approximately $2,211,000. Atria Investments Inc grew its holdings in shares of Tecnoglass by 43.0% in the third 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. Finally, Lisanti Capital Growth LLC bought a new stake in Tecnoglass in the third quarter worth $1,892,000. Institutional investors own 37.35% of the company’s stock.

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.