Janney Montgomery Scott LLC Makes New $275,000 Investment in Tecnoglass Inc. (NASDAQ:TGLS)

Janney Montgomery Scott LLC bought a new position in shares of Tecnoglass Inc. (NASDAQ:TGLS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,469 shares of the company’s stock, valued at approximately $275,000.

Several other hedge funds have also made changes to their positions in the business. USA Financial Formulas purchased a new position in Tecnoglass in the fourth quarter worth $26,000. Signaturefd LLC grew its holdings in shares of Tecnoglass by 4,735.7% in the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after acquiring an additional 663 shares during the period. DGS Capital Management LLC purchased a new position in Tecnoglass in the 3rd quarter valued at approximately $204,000. International Assets Investment Management LLC acquired a new position in Tecnoglass during the fourth quarter worth $243,000. Finally, Wolverine Trading LLC acquired a new stake in Tecnoglass in the third quarter valued at $225,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TGLS. Robert W. Baird upped their target price on shares of Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, November 8th. StockNews.com began coverage on Tecnoglass in a research report on Saturday, December 14th. They set a “hold” rating on the stock. Sidoti downgraded shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research note on Tuesday, October 22nd. DA Davidson lifted their price target on shares of Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Raymond James downgraded shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $77.40.

Tecnoglass Price Performance

Shares of TGLS opened at $76.94 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. Tecnoglass Inc. has a 12 month low of $40.94 and a 12 month high of $86.99. The stock has a fifty day moving average price of $80.01 and a 200 day moving average price of $71.63. The company has a market cap of $3.62 billion, a P/E ratio of 24.04 and a beta of 1.88.

Tecnoglass Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. This represents a $0.60 annualized dividend and a dividend yield of 0.78%. Tecnoglass’s dividend payout ratio (DPR) is 18.75%.

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.