Millennium Management LLC Makes New $1.83 Million Investment in Tecnoglass Inc. (NASDAQ:TGLS)

Millennium Management LLC acquired a new position in shares of Tecnoglass Inc. (NASDAQ:TGLS) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 23,010 shares of the company’s stock, valued at approximately $1,825,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TGLS. Barclays PLC increased its holdings in Tecnoglass by 32.2% during the 3rd quarter. Barclays PLC now owns 35,376 shares of the company’s stock worth $2,429,000 after purchasing an additional 8,613 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Tecnoglass during the 4th quarter worth approximately $275,000. Yorktown Management & Research Co Inc purchased a new stake in Tecnoglass during the 4th quarter worth approximately $222,000. Polaris Capital Management LLC increased its holdings in shares of Tecnoglass by 2.5% in the 4th quarter. Polaris Capital Management LLC now owns 860,964 shares of the company’s stock valued at $68,292,000 after acquiring an additional 20,800 shares during the last quarter. Finally, Legato Capital Management LLC increased its holdings in shares of Tecnoglass by 109.2% in the 4th quarter. Legato Capital Management LLC now owns 9,790 shares of the company’s stock valued at $777,000 after acquiring an additional 5,110 shares during the last quarter. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Tecnoglass Stock Down 1.1%

NASDAQ:TGLS opened at $84.65 on Tuesday. The firm has a market capitalization of $3.98 billion, a PE ratio of 26.45 and a beta of 1.85. The stock has a 50 day moving average of $75.33 and a 200-day moving average of $76.27. Tecnoglass Inc. has a 52 week low of $40.94 and a 52 week high of $89.36. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20.

Tecnoglass (NASDAQ:TGLS) last posted its earnings results on Thursday, May 8th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.82 by $0.10. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. Tecnoglass’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. Analysts predict that Tecnoglass Inc. will post 3.53 EPS for the current year.

Tecnoglass Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.71%. Tecnoglass’s dividend payout ratio is presently 16.22%.

Analysts Set New Price Targets

Separately, B. Riley assumed coverage on Tecnoglass in a research note on Friday, May 16th. They set a “buy” rating and a $100.00 price objective on the stock. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tecnoglass has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Tecnoglass 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.