Principal Financial Group Inc. Has $1.93 Million Stock Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

Principal Financial Group Inc. raised its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,982 shares of the company’s stock after purchasing an additional 331 shares during the period. Principal Financial Group Inc. owned 0.06% of Tecnoglass worth $1,931,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC grew its holdings in Tecnoglass by 1,350.0% during the first quarter. JFS Wealth Advisors LLC now owns 435 shares of the company’s stock valued at $31,000 after purchasing an additional 405 shares during the last quarter. Signaturefd LLC grew its holdings in Tecnoglass by 32.6% during the fourth quarter. Signaturefd LLC now owns 898 shares of the company’s stock valued at $71,000 after purchasing an additional 221 shares during the last quarter. Covestor Ltd grew its holdings in Tecnoglass by 6,293.8% during the fourth quarter. Covestor Ltd now owns 1,023 shares of the company’s stock valued at $81,000 after purchasing an additional 1,007 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Tecnoglass by 18.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,079 shares of the company’s stock valued at $86,000 after purchasing an additional 170 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its holdings in Tecnoglass by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,350 shares of the company’s stock valued at $186,000 after purchasing an additional 149 shares during the last quarter. Institutional investors and hedge funds own 37.35% of the company’s stock.

Tecnoglass Stock Down 0.4%

Shares of TGLS stock opened at $74.99 on Friday. The stock has a 50 day moving average of $80.94 and a 200-day moving average of $75.87. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.52 billion, a PE ratio of 23.44 and a beta of 1.78. Tecnoglass Inc. has a 12 month low of $46.47 and a 12 month high of $90.34.

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

Tecnoglass Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.80%. Tecnoglass’s payout ratio is 16.22%.

Wall Street Analysts Forecast Growth

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