Prospector Partners LLC Invests $2.07 Million in Tecnoglass Inc. (NASDAQ:TGLS)

Prospector Partners LLC acquired a new stake in Tecnoglass Inc. (NASDAQ:TGLS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 45,300 shares of the company’s stock, valued at approximately $2,071,000. Prospector Partners LLC owned approximately 0.10% of Tecnoglass at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TGLS. Thompson Siegel & Walmsley LLC bought a new position in Tecnoglass in the third quarter worth about $26,000. PNC Financial Services Group Inc. boosted its position in Tecnoglass by 27.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,917 shares of the company’s stock valued at $96,000 after buying an additional 632 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in Tecnoglass in the fourth quarter valued at approximately $201,000. Clough Capital Partners L P purchased a new stake in Tecnoglass in the third quarter valued at approximately $216,000. Finally, HBK Sorce Advisory LLC purchased a new stake in Tecnoglass in the fourth quarter valued at approximately $234,000. 37.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on TGLS. Stifel Nicolaus lowered Tecnoglass from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $48.00 to $45.00 in a research report on Wednesday, February 14th. DA Davidson restated a “buy” rating and issued a $50.00 target price on shares of Tecnoglass in a report on Monday, March 4th. B. Riley restated a “buy” rating and issued a $60.00 target price (down from $65.00) on shares of Tecnoglass in a report on Friday, May 10th. Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and increased their price target for the stock from $56.00 to $59.00 in a report on Wednesday, May 1st. Finally, Robert W. Baird lowered their target price on Tecnoglass from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Tuesday, May 7th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.83.

Tecnoglass Price Performance

Shares of NASDAQ TGLS traded up $0.24 during trading on Thursday, reaching $55.24. The company had a trading volume of 59,975 shares, compared to its average volume of 344,993. The stock has a market capitalization of $2.60 billion, a PE ratio of 15.60 and a beta of 1.79. The stock has a 50-day moving average price of $53.85 and a two-hundred day moving average price of $46.21. Tecnoglass Inc. has a twelve month low of $28.21 and a twelve month high of $59.76. The company has a current ratio of 2.33, a quick ratio of 1.72 and a debt-to-equity ratio of 0.27.

Tecnoglass (NASDAQ:TGLS) last issued its earnings results on Thursday, May 9th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $192.09 million during the quarter, compared to analysts’ expectations of $191.04 million. Tecnoglass had a return on equity of 31.85% and a net margin of 19.97%. Tecnoglass’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.08 EPS. As a group, sell-side analysts predict that Tecnoglass Inc. will post 3.37 earnings per share 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 dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Tecnoglass’s previous quarterly dividend of $0.09. Tecnoglass’s dividend payout ratio (DPR) is currently 12.68%.

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.