Tecnoglass (NYSE:TGLS) Trading Up 7.9% – Here’s What Happened

Tecnoglass Inc. (NYSE:TGLS) rose 7.9% during mid-day trading on Thursday . The stock traded as high as $51.42 and last traded at $51.7340. Approximately 98,849 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 317,680 shares. The stock had previously closed at $47.94.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Tecnoglass in a research report on Monday, December 22nd. DA Davidson reduced their price target on shares of Tecnoglass from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Finally, Zacks Research lowered shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.00.

Tecnoglass Stock Up 4.9%

The company’s fifty day moving average is $50.39. The company has a quick ratio of 1.40, a current ratio of 1.98 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.50 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 0.56 and a beta of 1.71.

Tecnoglass (NYSE:TGLS) last announced its quarterly earnings results on Thursday, November 6th. The company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.11). Tecnoglass had a return on equity of 26.64% and a net margin of 18.46%.Tecnoglass’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company posted $1.08 EPS.

Tecnoglass Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, December 31st. Tecnoglass’s payout ratio is 15.58%.

Hedge Funds Weigh In On Tecnoglass

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Horizon Corp purchased a new position in shares of Tecnoglass during the third quarter valued at approximately $28,000. Federated Hermes Inc. lifted its position in shares of Tecnoglass by 290.2% during the third quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock worth $40,000 after acquiring an additional 444 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Tecnoglass by 223.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock worth $43,000 after purchasing an additional 440 shares during the period. Farther Finance Advisors LLC increased its holdings in Tecnoglass by 314.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 796 shares of the company’s stock worth $62,000 after acquiring an additional 604 shares during the period. Finally, Valley National Advisers Inc. bought a new position in Tecnoglass in the 2nd quarter worth about $120,000. 37.35% of the stock is currently owned by institutional investors.

About Tecnoglass

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.