Tecnoglass Inc. (NASDAQ:TGLS) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its position in Tecnoglass Inc. (NASDAQ:TGLS) by 19.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,826 shares of the company’s stock after buying an additional 8,074 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.10% of Tecnoglass worth $2,232,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TGLS. JPMorgan Chase & Co. increased its holdings in Tecnoglass by 39.5% in the first quarter. JPMorgan Chase & Co. now owns 25,671 shares of the company’s stock valued at $648,000 after buying an additional 7,269 shares during the last quarter. BlackRock Inc. increased its holdings in Tecnoglass by 107.4% in the first quarter. BlackRock Inc. now owns 994,989 shares of the company’s stock valued at $25,114,000 after buying an additional 515,151 shares during the last quarter. Sei Investments Co. increased its holdings in Tecnoglass by 45.1% in the first quarter. Sei Investments Co. now owns 265,750 shares of the company’s stock valued at $6,708,000 after buying an additional 82,567 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Tecnoglass by 39.7% in the first quarter. Lazard Asset Management LLC now owns 28,909 shares of the company’s stock valued at $729,000 after buying an additional 8,212 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Tecnoglass by 11.8% in the first quarter. Renaissance Technologies LLC now owns 122,500 shares of the company’s stock valued at $3,092,000 after buying an additional 12,900 shares during the last quarter. 37.35% of the stock is owned by institutional investors.

Tecnoglass Stock Performance

Shares of TGLS stock opened at $54.72 on Friday. The company has a quick ratio of 1.60, a current ratio of 2.27 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average of $49.45 and a two-hundred day moving average of $42.71. The company has a market cap of $2.57 billion, a P/E ratio of 14.21 and a beta of 1.80. Tecnoglass Inc. has a 52 week low of $28.21 and a 52 week high of $59.76.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.05. The business had revenue of $194.60 million during the quarter, compared to the consensus estimate of $199.93 million. Tecnoglass had a return on equity of 38.92% and a net margin of 21.95%. As a group, analysts anticipate that Tecnoglass Inc. will post 3.7 EPS for the current year.

Tecnoglass Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, March 27th. This is an increase from Tecnoglass’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.80%. Tecnoglass’s payout ratio is currently 11.43%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Stifel Nicolaus lowered Tecnoglass from a “buy” rating to a “hold” rating and lowered their price objective for the company from $48.00 to $45.00 in a report on Wednesday, February 14th. Robert W. Baird lifted their target price on Tecnoglass from $56.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday. DA Davidson restated a “buy” rating and issued a $50.00 target price on shares of Tecnoglass in a research note on Monday, March 4th. Finally, B. Riley lifted their target price on Tecnoglass from $51.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Tecnoglass currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

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.