Virtu Financial LLC Purchases 1,807 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Virtu Financial LLC lifted its position in Tecnoglass Inc. (NASDAQ:TGLS) by 30.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,806 shares of the company’s stock after acquiring an additional 1,807 shares during the quarter. Virtu Financial LLC’s holdings in Tecnoglass were worth $406,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Handelsbanken Fonder AB bought a new position in Tecnoglass during the fourth quarter valued at about $201,000. EntryPoint Capital LLC bought a new position in Tecnoglass during the first quarter valued at about $227,000. HBK Sorce Advisory LLC bought a new position in Tecnoglass during the fourth quarter valued at about $234,000. M&T Bank Corp purchased a new stake in Tecnoglass during the fourth quarter valued at about $244,000. Finally, Tidal Investments LLC purchased a new stake in Tecnoglass during the first quarter valued at about $245,000. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Trading Down 2.2 %

Shares of Tecnoglass stock opened at $50.87 on Friday. Tecnoglass Inc. has a 12-month low of $28.21 and a 12-month high of $59.76. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 14.61 and a beta of 1.85. The company has a current ratio of 2.33, a quick ratio of 1.72 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $49.98 and its 200-day moving average price is $50.05.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Tecnoglass had a return on equity of 31.85% and a net margin of 19.97%. The firm had revenue of $192.09 million during the quarter, compared to analysts’ expectations of $191.04 million. During the same period in the previous year, the company posted $1.08 earnings per share. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities analysts expect that Tecnoglass Inc. will post 3.37 earnings per share for the current fiscal year.

Tecnoglass Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Friday, June 28th. Tecnoglass’s dividend payout ratio (DPR) is 12.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TGLS shares. Sidoti raised shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Wednesday, June 26th. Robert W. Baird dropped their price objective on shares of Tecnoglass from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Tuesday, May 7th. Finally, B. Riley reaffirmed a “buy” rating and set a $60.00 price objective (down from $65.00) on shares of Tecnoglass in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.33.

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.