Tecnoglass (NASDAQ:TGLS) Upgraded at B. Riley

B. Riley upgraded shares of Tecnoglass (NASDAQ:TGLS) to a strong-buy rating in a report issued on Thursday morning,Zacks.com reports.

Tecnoglass Price Performance

Shares of NASDAQ:TGLS opened at $86.14 on Thursday. The company’s fifty day moving average price is $72.11 and its 200-day moving average price is $75.23. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 26.92 and a beta of 1.85. Tecnoglass has a one year low of $40.94 and a one year high of $89.36. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.10. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same period last year, the business posted $0.66 EPS. On average, equities research analysts anticipate that Tecnoglass will post 3.53 earnings per share for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Monday, March 31st. Tecnoglass’s dividend payout ratio is currently 16.22%.

Hedge Funds Weigh In On Tecnoglass

Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC grew its holdings in shares of Tecnoglass by 49.2% during the 4th quarter. FMR LLC now owns 5,412,322 shares of the company’s stock valued at $429,305,000 after purchasing an additional 1,785,602 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Tecnoglass by 15.6% during the 1st quarter. Wellington Management Group LLP now owns 1,883,864 shares of the company’s stock valued at $134,790,000 after purchasing an additional 254,686 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Tecnoglass by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 993,514 shares of the company’s stock valued at $78,811,000 after purchasing an additional 14,369 shares during the last quarter. Polaris Capital Management LLC grew its holdings in shares of Tecnoglass by 2.5% during the 4th quarter. Polaris Capital Management LLC now owns 860,964 shares of the company’s stock valued at $68,292,000 after purchasing an additional 20,800 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Tecnoglass by 12.1% during the 1st quarter. American Century Companies Inc. now owns 816,166 shares of the company’s stock valued at $58,397,000 after purchasing an additional 87,791 shares during the last quarter. Institutional investors own 37.35% of the company’s stock.

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.