Tecnoglass Inc. (NASDAQ:TGLS) Stake Cut by Raymond James & Associates

Raymond James & Associates cut its position in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 26.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 28,421 shares of the company’s stock after selling 10,435 shares during the period. Raymond James & Associates’ holdings in Tecnoglass were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Thompson Siegel & Walmsley LLC bought a new stake in Tecnoglass in the third quarter valued at $26,000. Tower Research Capital LLC TRC bought a new stake in Tecnoglass in the third quarter valued at $28,000. BNP Paribas Arbitrage SA bought a new stake in Tecnoglass in the first quarter valued at $29,000. BNP Paribas Arbitrage SNC bought a new stake in Tecnoglass in the third quarter valued at $65,000. Finally, Castleview Partners LLC bought a new stake in Tecnoglass in the first quarter valued at $66,000. 37.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TGLS. DA Davidson reiterated a “buy” rating and issued a $50.00 target price on shares of Tecnoglass in a research note on Monday, March 4th. B. Riley raised their target price on Tecnoglass from $51.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Stifel Nicolaus cut Tecnoglass from a “buy” rating to a “hold” rating and cut their target price for the company from $48.00 to $45.00 in a research note on Wednesday, February 14th. Finally, Robert W. Baird lifted their price objective on shares of Tecnoglass from $56.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tecnoglass presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Tecnoglass Price Performance

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

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

Tecnoglass Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a dividend of $0.11 per share. This is a positive change 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%. The ex-dividend date is Wednesday, March 27th. Tecnoglass’s payout ratio is presently 11.43%.

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.