Victory Capital Management Inc. Raises Stake in Tecnoglass Inc. (NASDAQ:TGLS)

Victory Capital Management Inc. raised its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 58.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 815,756 shares of the company’s stock after buying an additional 302,163 shares during the quarter. Victory Capital Management Inc.’s holdings in Tecnoglass were worth $37,288,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. boosted its position in shares of Tecnoglass by 84.6% in the third quarter. American Century Companies Inc. now owns 2,105,685 shares of the company’s stock valued at $69,403,000 after acquiring an additional 965,316 shares during the period. Cooke & Bieler LP lifted its stake in Tecnoglass by 35.8% in the 4th quarter. Cooke & Bieler LP now owns 1,300,179 shares of the company’s stock worth $59,431,000 after purchasing an additional 342,451 shares in the last quarter. Clearbridge Investments LLC bought a new position in Tecnoglass in the 3rd quarter valued at $9,837,000. Neumeier Poma Investment Counsel LLC grew its position in shares of Tecnoglass by 169.7% during the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 420,310 shares of the company’s stock valued at $13,853,000 after purchasing an additional 264,475 shares in the last quarter. Finally, Impax Asset Management Group plc bought a new position in shares of Tecnoglass in the third quarter worth $3,296,000. 37.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TGLS has been the subject of several recent analyst reports. Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $56.00 to $59.00 in a research report on Wednesday, May 1st. Robert W. Baird boosted their price objective on Tecnoglass from $56.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. DA Davidson reaffirmed a “buy” rating and issued a $50.00 target price on shares of Tecnoglass in a research note on Monday, March 4th. B. Riley boosted their price target on shares of Tecnoglass from $51.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Finally, Stifel Nicolaus cut shares of Tecnoglass from a “buy” rating to a “hold” rating and lowered their price objective for the company from $48.00 to $45.00 in a research report on Wednesday, February 14th. Three research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

Tecnoglass Stock Up 1.2 %

TGLS opened at $55.12 on Tuesday. The company has a market cap of $2.59 billion, a P/E ratio of 14.32 and a beta of 1.79. Tecnoglass Inc. has a 12 month low of $28.21 and a 12 month high of $59.76. The business’s 50-day moving average price is $51.72 and its 200-day moving average price is $44.50. The company has a current ratio of 2.27, a quick ratio of 1.60 and a debt-to-equity ratio of 0.30.

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

Tecnoglass Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Wednesday, March 27th. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.09. Tecnoglass’s dividend payout ratio (DPR) is 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.