6,893 Shares in Tecnoglass Inc. (NASDAQ:TGLS) Acquired by Cynosure Group LLC

Cynosure Group LLC purchased a new position in shares of Tecnoglass Inc. (NASDAQ:TGLS) in the first quarter, Holdings Channel.com reports. The fund purchased 6,893 shares of the company’s stock, valued at approximately $359,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in Tecnoglass by 21.6% during the third quarter. Wellington Management Group LLP now owns 398,917 shares of the company’s stock worth $13,148,000 after acquiring an additional 70,900 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Tecnoglass by 58.8% during the 4th quarter. Victory Capital Management Inc. now owns 815,756 shares of the company’s stock valued at $37,288,000 after buying an additional 302,163 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Tecnoglass by 27.6% in the fourth quarter. Clearbridge Investments LLC now owns 380,963 shares of the company’s stock worth $17,414,000 after purchasing an additional 82,508 shares in the last quarter. Capstone Investment Advisors LLC grew its stake in Tecnoglass by 57.5% in the 1st quarter. Capstone Investment Advisors LLC now owns 47,368 shares of the company’s stock valued at $2,465,000 after buying an additional 17,292 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC bought a new position in Tecnoglass in the 1st quarter worth about $2,074,000. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Stock Up 2.6 %

Tecnoglass stock traded up $1.35 during midday trading on Monday, reaching $52.80. The company’s stock had a trading volume of 265,537 shares, compared to its average volume of 401,433. The stock’s 50-day simple moving average is $50.42 and its 200-day simple moving average is $49.56. Tecnoglass Inc. has a 52-week low of $28.21 and a 52-week high of $59.76. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.33 and a quick ratio of 1.72. The stock has a market capitalization of $2.48 billion, a P/E ratio of 15.22 and a beta of 1.85.

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

Tecnoglass Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Friday, June 28th. Tecnoglass’s dividend payout ratio (DPR) is 12.68%.

Analyst Upgrades and Downgrades

A number of equities 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 target for the company in a research note on Wednesday, June 26th. B. Riley reiterated a “buy” rating and issued a $60.00 price objective (down previously from $65.00) on shares of Tecnoglass in a report on Friday, May 10th. Finally, Robert W. Baird reduced their price target on Tecnoglass from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 7th. Two 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.33.

Tecnoglass 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.