Mirae Asset Global Investments Co. Ltd. Purchases 8,074 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 19.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 48,826 shares of the company’s stock after purchasing an additional 8,074 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Tecnoglass were worth $2,232,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Qube Research & Technologies Ltd raised its position in Tecnoglass by 82.6% in the third quarter. Qube Research & Technologies Ltd now owns 183,119 shares of the company’s stock worth $6,036,000 after purchasing an additional 82,833 shares in the last quarter. Wellington Management Group LLP raised its position in Tecnoglass by 21.6% in the third quarter. Wellington Management Group LLP now owns 398,917 shares of the company’s stock worth $13,148,000 after purchasing an additional 70,900 shares in the last quarter. Impax Asset Management Group plc acquired a new position in Tecnoglass in the third quarter worth about $3,296,000. Seven Eight Capital LP increased its holdings in shares of Tecnoglass by 207.6% during the third quarter. Seven Eight Capital LP now owns 37,663 shares of the company’s stock worth $1,241,000 after buying an additional 25,420 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Tecnoglass by 84.6% during the third quarter. American Century Companies Inc. now owns 2,105,685 shares of the company’s stock worth $69,403,000 after buying an additional 965,316 shares in the last quarter. Institutional investors and hedge funds own 37.35% of the company’s stock.

Analysts Set New Price Targets

TGLS has been the subject of several recent analyst reports. B. Riley raised their price objective on shares of Tecnoglass from $51.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Stifel Nicolaus lowered shares of Tecnoglass from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $48.00 to $45.00 in a report on Wednesday, February 14th. Robert W. Baird raised their price objective on shares of Tecnoglass from $56.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, DA Davidson reaffirmed a “buy” rating and set a $50.00 price objective on shares of Tecnoglass in a report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tecnoglass has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Tecnoglass Price Performance

TGLS opened at $54.72 on Friday. Tecnoglass Inc. has a one year low of $28.21 and a one year high of $59.76. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.27 and a quick ratio of 1.60. The company’s 50 day simple moving average is $49.45 and its 200-day simple moving average is $42.71. The stock has a market capitalization of $2.57 billion, a P/E ratio of 14.21 and a beta of 1.80.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.75 by $0.05. Tecnoglass had a net margin of 21.95% and a return on equity of 38.92%. The business had revenue of $194.60 million for the quarter, compared to analysts’ expectations of $199.93 million. Sell-side analysts anticipate that Tecnoglass Inc. will post 3.7 earnings per share for the current fiscal year.

Tecnoglass Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, March 27th. This is a boost from Tecnoglass’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a yield of 0.80%. Tecnoglass’s dividend payout ratio (DPR) is presently 11.43%.

About Tecnoglass

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.