Nilsine Partners LLC Raises Stake in Tecnoglass Inc. (NASDAQ:TGLS)

Nilsine Partners LLC raised its position in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 148.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,386 shares of the company’s stock after purchasing an additional 24,719 shares during the quarter. Nilsine Partners LLC’s holdings in Tecnoglass were worth $2,961,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Vest Financial LLC purchased a new position in Tecnoglass during the first quarter valued at approximately $3,561,000. Rhumbline Advisers lifted its holdings in shares of Tecnoglass by 7.8% in the first quarter. Rhumbline Advisers now owns 30,707 shares of the company’s stock worth $2,197,000 after buying an additional 2,233 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Tecnoglass by 5,771.4% in the first quarter. GAMMA Investing LLC now owns 17,673 shares of the company’s stock worth $1,265,000 after buying an additional 17,372 shares in the last quarter. State of Wyoming lifted its holdings in shares of Tecnoglass by 17.7% in the fourth quarter. State of Wyoming now owns 3,735 shares of the company’s stock worth $296,000 after buying an additional 561 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC purchased a new position in shares of Tecnoglass in the fourth quarter worth $4,239,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Analyst Ratings Changes

Separately, B. Riley initiated coverage on shares of Tecnoglass in a report on Friday, May 16th. They issued 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 given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tecnoglass has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Tecnoglass Price Performance

TGLS stock opened at $73.20 on Friday. Tecnoglass Inc. has a one year low of $40.94 and a one year high of $90.34. The company’s fifty day moving average price is $79.23 and its 200-day moving average price is $76.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. The company has a market capitalization of $3.44 billion, a PE ratio of 22.88 and a beta of 1.85.

Tecnoglass (NASDAQ:TGLS) last released its earnings results on Thursday, May 8th. The company reported $0.92 EPS for the quarter, topping 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. On average, equities analysts anticipate that Tecnoglass Inc. will post 3.53 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Monday, June 30th. Tecnoglass’s payout ratio is 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.