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

Shares of Tecnoglass Inc. (NASDAQ:TGLS) saw unusually-high trading volume on Tuesday . Approximately 171,099 shares changed hands during mid-day 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.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. B. Riley lifted their price objective 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. Stifel Nicolaus cut shares of Tecnoglass from a “buy” rating to a “hold” rating and decreased their price objective for the company from $48.00 to $45.00 in a report on Wednesday, February 14th. Robert W. Baird dropped their target price on Tecnoglass from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Tuesday. Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and raised their target price for the company from $56.00 to $59.00 in a research note on Wednesday, May 1st. Finally, DA Davidson reissued a “buy” rating and issued a $50.00 price target on shares of Tecnoglass in a report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.67.

Tecnoglass Stock Down 0.4 %

The business’s 50 day simple moving average is $52.03 and its 200 day simple moving average is $44.73. The company has a market capitalization 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.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.80 EPS for the quarter, topping 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 firm had revenue of $194.60 million during the quarter, compared to analyst estimates of $199.93 million. As a group, analysts forecast that Tecnoglass Inc. will post 3.7 EPS for the current year.

Tecnoglass Increases Dividend

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

Institutional Trading of Tecnoglass

Several institutional investors have recently made changes to their positions in TGLS. American Century Companies Inc. lifted its stake in shares of 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 purchasing an additional 965,316 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Tecnoglass by 232.8% in the first quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock worth $84,017,000 after purchasing an additional 1,129,603 shares during the period. Cooke & Bieler LP lifted its position 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 worth $59,431,000 after purchasing an additional 342,451 shares during the last quarter. Polaris Capital Management LLC boosted its stake in Tecnoglass by 0.6% during the 1st quarter. Polaris Capital Management LLC now owns 902,064 shares of the company’s stock valued at $46,934,000 after purchasing an additional 5,300 shares during the period. Finally, Victory Capital Management Inc. boosted its position 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 valued at $37,288,000 after acquiring an additional 302,163 shares during the period. 37.35% of the stock is currently owned by institutional investors and hedge funds.

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.