SummerHaven Investment Management LLC Acquires 292 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

SummerHaven Investment Management LLC grew its holdings in Tecnoglass Inc. (NASDAQ:TGLS) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,681 shares of the company’s stock after purchasing an additional 292 shares during the period. SummerHaven Investment Management LLC’s holdings in Tecnoglass were worth $687,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Handelsbanken Fonder AB purchased a new position in Tecnoglass in the 4th quarter worth approximately $201,000. EntryPoint Capital LLC bought a new position in shares of Tecnoglass in the 1st quarter worth about $227,000. M&T Bank Corp purchased a new stake in Tecnoglass during the 4th quarter valued at about $244,000. Tidal Investments LLC purchased a new stake in shares of Tecnoglass during the 1st quarter valued at about $245,000. Finally, Virtu Financial LLC bought a new position in shares of Tecnoglass in the 4th quarter worth approximately $274,000. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Trading Up 1.3 %

NASDAQ TGLS traded up $0.79 on Friday, hitting $59.78. 24,862 shares of the stock were exchanged, compared to its average volume of 395,030. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.72 and a current ratio of 2.33. The stock has a fifty day moving average price of $51.81 and a two-hundred day moving average price of $51.10. The firm has a market capitalization of $2.81 billion, a P/E ratio of 17.00 and a beta of 1.85. Tecnoglass Inc. has a 52-week low of $28.21 and a 52-week high of $61.03.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. The firm had revenue of $219.65 million during the quarter, compared to the consensus estimate of $219.29 million. Tecnoglass had a return on equity of 31.85% and a net margin of 19.97%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. Research analysts forecast that Tecnoglass Inc. will post 3.37 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a $0.11 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.44 dividend on an annualized basis and a yield of 0.74%. Tecnoglass’s dividend payout ratio is presently 12.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Robert W. Baird raised their target price on shares of Tecnoglass from $60.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Stifel Nicolaus lifted their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, August 9th. B. Riley reissued a “buy” rating and issued a $60.00 target price (down from $65.00) on shares of Tecnoglass in a report on Friday, May 10th. DA Davidson raised their target price on shares of Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, Sidoti raised shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.83.

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.