17,280 Shares in Tecnoglass Inc. (NASDAQ:TGLS) Purchased by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. purchased a new position in Tecnoglass Inc. (NASDAQ:TGLS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 17,280 shares of the company’s stock, valued at approximately $791,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in Tecnoglass by 27.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,917 shares of the company’s stock valued at $96,000 after acquiring an additional 632 shares during the period. Handelsbanken Fonder AB bought a new stake in Tecnoglass in the 4th quarter valued at about $201,000. HBK Sorce Advisory LLC bought a new stake in Tecnoglass in the 4th quarter valued at about $234,000. M&T Bank Corp bought a new stake in Tecnoglass in the 4th quarter valued at about $244,000. Finally, Cornerstone Investment Partners LLC bought a new stake in Tecnoglass in the 4th quarter valued at about $258,000. 37.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TGLS. Robert W. Baird lowered their price objective on Tecnoglass from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 7th. Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $56.00 to $59.00 in a research note on Wednesday, May 1st. DA Davidson reiterated a “buy” rating and set a $50.00 price target on shares of Tecnoglass in a research report on Monday, March 4th. Finally, B. Riley reiterated a “buy” rating and set a $60.00 price target (down from $65.00) on shares of Tecnoglass in a research report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tecnoglass currently has a consensus rating of “Moderate Buy” and an average price target of $53.83.

Tecnoglass Trading Up 1.1 %

Shares of TGLS opened at $42.67 on Friday. The company has a quick ratio of 1.72, a current ratio of 2.33 and a debt-to-equity ratio of 0.27. The business’s 50-day moving average price is $52.08 and its 200-day moving average price is $48.30. The stock has a market cap of $2.01 billion, a PE ratio of 12.30 and a beta of 1.79. Tecnoglass Inc. has a twelve month low of $28.21 and a twelve month high of $59.76.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $192.09 million during the quarter, compared to the consensus estimate of $191.04 million. Tecnoglass had a return on equity of 31.85% and a net margin of 19.97%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the company posted $1.08 earnings per share. On average, equities analysts forecast that Tecnoglass Inc. will post 3.37 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, June 28th. Tecnoglass’s dividend payout ratio is currently 12.68%.

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.