Amalgamated Bank Makes New Investment in Tecnoglass Inc. (NASDAQ:TGLS)

Amalgamated Bank acquired a new position in shares of Tecnoglass Inc. (NASDAQ:TGLS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 777 shares of the company’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TGLS. Wellington Management Group LLP boosted its stake in shares of Tecnoglass by 5.6% in the fourth quarter. Wellington Management Group LLP now owns 421,086 shares of the company’s stock valued at $19,248,000 after purchasing an additional 22,169 shares during the period. Capstone Investment Advisors LLC boosted its position in Tecnoglass by 57.5% in the 1st quarter. Capstone Investment Advisors LLC now owns 47,368 shares of the company’s stock valued at $2,465,000 after buying an additional 17,292 shares during the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new position in Tecnoglass in the 1st quarter valued at about $2,074,000. Commonwealth Equity Services LLC grew its stake in shares of Tecnoglass by 295.5% during the first quarter. Commonwealth Equity Services LLC now owns 20,630 shares of the company’s stock valued at $1,073,000 after acquiring an additional 15,414 shares in the last quarter. Finally, Owls Nest Partners IA LLC increased its position in shares of Tecnoglass by 200.1% during the fourth quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock worth $26,410,000 after acquiring an additional 385,265 shares during the last quarter. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Tecnoglass Trading Up 0.1 %

Shares of NASDAQ TGLS opened at $68.74 on Wednesday. The firm has a market capitalization of $3.23 billion, a PE ratio of 19.81 and a beta of 1.86. Tecnoglass Inc. has a one year low of $28.21 and a one year high of $69.79. The company has a current ratio of 2.43, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $59.77 and a two-hundred day moving average price of $54.72.

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

Tecnoglass Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. DA Davidson lifted their price objective on Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. B. Riley cut shares of Tecnoglass from a “buy” rating to a “neutral” rating and upped their target price for the stock from $60.00 to $69.00 in a research report on Monday, September 23rd. Sidoti raised Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Wednesday, June 26th. Stifel Nicolaus increased their price objective on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Robert W. Baird raised their target price on Tecnoglass from $68.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.67.

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.