GAMMA Investing LLC Has $1.27 Million Stock Position in Tecnoglass Inc. (NASDAQ:TGLS)

GAMMA Investing LLC lifted its position in Tecnoglass Inc. (NASDAQ:TGLS) by 5,771.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,673 shares of the company’s stock after buying an additional 17,372 shares during the quarter. GAMMA Investing LLC’s holdings in Tecnoglass were worth $1,265,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TGLS. Nations Financial Group Inc. IA ADV lifted its stake in shares of Tecnoglass by 3.0% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 9,882 shares of the company’s stock worth $784,000 after buying an additional 286 shares during the last quarter. Ifrah Financial Services Inc. bought a new position in Tecnoglass during the fourth quarter worth $214,000. New York State Common Retirement Fund increased its position in Tecnoglass by 40.0% during the fourth quarter. New York State Common Retirement Fund now owns 20,305 shares of the company’s stock worth $1,611,000 after acquiring an additional 5,800 shares during the period. K.J. Harrison & Partners Inc bought a new position in Tecnoglass during the fourth quarter worth $2,489,000. Finally, Oppenheimer & Co. Inc. bought a new position in Tecnoglass during the fourth quarter worth $265,000. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, B. Riley initiated coverage on shares of Tecnoglass in a research report on Friday, May 16th. They set a “buy” rating and a $100.00 target price on the stock. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Tecnoglass Trading Down 4.2%

Shares of TGLS stock opened at $82.11 on Monday. Tecnoglass Inc. has a 1 year low of $40.94 and a 1 year high of $90.34. The firm’s fifty day simple moving average is $78.48 and its 200 day simple moving average is $76.81. The firm has a market capitalization of $3.86 billion, a P/E ratio of 25.66 and a beta of 1.84. 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 announced its quarterly earnings results on Thursday, May 8th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.10. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. Tecnoglass’s revenue was up 15.4% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. As a group, sell-side analysts predict that Tecnoglass Inc. will post 3.53 EPS for the current year.

Tecnoglass Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Monday, June 30th. Tecnoglass’s dividend payout ratio (DPR) is presently 16.22%.

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.