Tecnoglass (NASDAQ:TGLS) Shares Up 6.9% – Here’s Why

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TGLS shares. Robert W. Baird boosted their target price on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. DA Davidson increased their price objective on shares of Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, StockNews.com started coverage on Tecnoglass in a research report on Saturday, December 14th. They issued a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $77.40.

Tecnoglass Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. The company has a market capitalization of $3.46 billion, a PE ratio of 23.00 and a beta of 1.88. The stock’s 50-day simple moving average is $77.51 and its 200 day simple moving average is $73.19.

Tecnoglass Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s dividend payout ratio (DPR) is 17.49%.

Institutional Trading of Tecnoglass

Several institutional investors have recently modified their holdings of the stock. USA Financial Formulas acquired a new stake in shares of Tecnoglass in the fourth quarter valued at approximately $26,000. R Squared Ltd acquired a new position in Tecnoglass during the fourth quarter worth $70,000. Signaturefd LLC increased its holdings in shares of Tecnoglass by 32.6% in the 4th quarter. Signaturefd LLC now owns 898 shares of the company’s stock valued at $71,000 after purchasing an additional 221 shares in the last quarter. Covestor Ltd increased its holdings in Tecnoglass by 6,293.8% in the fourth quarter. Covestor Ltd now owns 1,023 shares of the company’s stock valued at $81,000 after buying an additional 1,007 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Tecnoglass by 18.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,079 shares of the company’s stock worth $86,000 after buying an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 37.35% of the company’s stock.

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.