Tecnoglass (NYSE:TGLS) Shares Break Above 200-Day Moving Average – Here’s What Happened

Tecnoglass Inc. (NYSE:TGLS) shares crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $43.06 and traded as high as $45.14. Tecnoglass shares last traded at $44.9050, with a volume of 804,881 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TGLS shares. Weiss Ratings upgraded Tecnoglass from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. Zacks Research upgraded shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 20th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.33.

Tecnoglass Stock Up 4.9%

The company has a market cap of $1.99 billion and a PE ratio of 15.81. The company has a fifty day moving average of $37.83 and a two-hundred day moving average of $43.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.17 and a current ratio of 1.86.

Tecnoglass (NYSE:TGLS) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. Tecnoglass had a net margin of 12.35% and a return on equity of 17.84%. The company had revenue of $310.57 million during the quarter. During the same period in the previous year, the firm earned $1.00 earnings per share. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. As a group, analysts anticipate that Tecnoglass Inc. will post 2.57 earnings per share for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Wednesday, September 30th. Tecnoglass’s dividend payout ratio is presently 21.13%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TGLS. Dimensional Fund Advisors LP increased its stake in Tecnoglass by 15.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,243,496 shares of the company’s stock worth $55,395,000 after buying an additional 161,955 shares during the period. Bank of America Corp DE boosted its position in Tecnoglass by 9.1% in the 1st quarter. Bank of America Corp DE now owns 162,777 shares of the company’s stock valued at $7,252,000 after buying an additional 13,516 shares during the period. Bank of New York Mellon Corp boosted its position in Tecnoglass by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 73,522 shares of the company’s stock valued at $3,275,000 after buying an additional 3,880 shares during the period. Principal Financial Group Inc. grew its stake in Tecnoglass by 7.5% in the 1st quarter. Principal Financial Group Inc. now owns 48,784 shares of the company’s stock worth $2,173,000 after acquiring an additional 3,419 shares in the last quarter. Finally, Weiss Asset Management LP bought a new position in Tecnoglass in the 1st quarter worth about $1,656,000. 37.35% of the stock is currently owned by institutional investors.

About Tecnoglass

Tecnoglass Inc (NYSE:TGLS) is a manufacturer of architectural glass, windows and aluminum products for residential and commercial construction. The company produces impact- and non-impact-resistant windows and doors, insulated and laminated glass, curtain wall systems, storefronts, railings and related architectural components.

Founded in 1994, Tecnoglass is headquartered in Barranquilla, Colombia, where it operates integrated manufacturing facilities serving the building-products market.