Tecnoglass Inc. (NASDAQ:TGLS) Receives Consensus Rating of “Hold” from Brokerages

Tecnoglass Inc. (NASDAQ:TGLS) has earned an average recommendation of “Hold” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $77.40.

A number of analysts have recently issued reports on TGLS shares. StockNews.com started coverage on Tecnoglass in a research report on Saturday, December 14th. They set a “hold” rating for the company. DA Davidson lifted their price target on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th.

Tecnoglass Stock Performance

Shares of TGLS opened at $65.84 on Friday. The company has a market cap of $3.09 billion, a PE ratio of 20.58 and a beta of 1.94. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average price of $76.18 and a 200-day moving average price of $73.52. Tecnoglass has a 12-month low of $40.94 and a 12-month high of $86.99.

Tecnoglass Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.91%. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, December 31st. Tecnoglass’s dividend payout ratio (DPR) is currently 17.49%.

Hedge Funds Weigh In On Tecnoglass

A number of large investors have recently modified their holdings of the company. FMR LLC raised its holdings in shares of Tecnoglass by 49.2% during the 4th quarter. FMR LLC now owns 5,412,322 shares of the company’s stock valued at $429,305,000 after buying an additional 1,785,602 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Tecnoglass by 29.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock valued at $134,994,000 after buying an additional 447,647 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Tecnoglass by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 993,514 shares of the company’s stock worth $78,811,000 after purchasing an additional 14,369 shares during the period. Polaris Capital Management LLC increased its stake in Tecnoglass by 2.5% in the 4th quarter. Polaris Capital Management LLC now owns 860,964 shares of the company’s stock worth $68,292,000 after purchasing an additional 20,800 shares during the period. Finally, Vanguard Group Inc. increased its stake in Tecnoglass by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 517,435 shares of the company’s stock worth $41,043,000 after purchasing an additional 31,493 shares during the period. 37.35% of the stock is owned by hedge funds and other institutional investors.

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.