Rhumbline Advisers Acquires New Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

Rhumbline Advisers bought a new position in Tecnoglass Inc. (NASDAQ:TGLS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 29,260 shares of the company’s stock, valued at approximately $1,468,000.

Several other hedge funds also recently modified their holdings of TGLS. EntryPoint Capital LLC acquired a new position in shares of Tecnoglass during the 1st quarter valued at about $227,000. Tidal Investments LLC bought a new position in shares of Tecnoglass in the first quarter valued at approximately $245,000. Virtu Financial LLC acquired a new stake in shares of Tecnoglass in the fourth quarter worth $274,000. Walleye Trading LLC boosted its holdings in shares of Tecnoglass by 664.2% during the 1st quarter. Walleye Trading LLC now owns 5,884 shares of the company’s stock worth $306,000 after buying an additional 5,114 shares during the period. Finally, Crossmark Global Holdings Inc. grew its stake in Tecnoglass by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock valued at $355,000 after buying an additional 220 shares during the last quarter. Institutional investors and hedge funds own 37.35% of the company’s stock.

Tecnoglass Trading Down 0.4 %

Shares of TGLS opened at $68.65 on Friday. The stock’s 50-day moving average price is $58.05 and its 200 day moving average price is $53.70. The company has a quick ratio of 1.80, a current ratio of 2.43 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 19.78 and a beta of 1.86. Tecnoglass Inc. has a 12-month low of $28.21 and a 12-month high of $69.79.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The business had revenue of $219.65 million for the quarter, compared to analysts’ expectations of $219.29 million. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. Tecnoglass’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 earnings per share. As a group, research analysts predict that Tecnoglass Inc. will post 3.42 earnings per share for the current year.

Tecnoglass Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Monday, September 30th. Tecnoglass’s payout ratio is 12.68%.

Wall Street Analysts Forecast Growth

TGLS has been the subject of a number of research analyst reports. Robert W. Baird boosted their target price on shares of Tecnoglass from $68.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. DA Davidson increased their target price on Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Stifel Nicolaus lifted their price target on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Sidoti raised Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Wednesday, June 26th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.17.

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.