Kingsview Wealth Management LLC Acquires New Position in Tecnoglass Inc. (NASDAQ:TGLS)

Kingsview Wealth Management LLC bought a new position in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 43,807 shares of the company's stock, valued at approximately $3,134,000. Kingsview Wealth Management LLC owned approximately 0.09% of Tecnoglass at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. FMR LLC grew its stake in Tecnoglass by 49.2% in the fourth quarter. FMR LLC now owns 5,412,322 shares of the company's stock worth $429,305,000 after purchasing an additional 1,785,602 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tecnoglass by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 993,514 shares of the company's stock worth $78,811,000 after buying an additional 14,369 shares during the period. Vanguard Group Inc. lifted its holdings in Tecnoglass by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 517,435 shares of the company's stock worth $41,043,000 after buying an additional 31,493 shares during the period. Capital World Investors purchased a new stake in Tecnoglass during the fourth quarter worth $23,530,000. Finally, Marshall Wace LLP purchased a new stake in Tecnoglass during the fourth quarter worth $19,638,000. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, B. Riley began coverage on Tecnoglass in a report on Friday, May 16th. They set a "buy" rating and a $100.00 target price for the company. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tecnoglass has a consensus rating of "Moderate Buy" and an average price target of $83.00.

Tecnoglass Stock Up 3.1%

Shares of Tecnoglass stock traded up $2.34 during trading hours on Tuesday, reaching $76.94. 238,770 shares of the company were exchanged, compared to its average volume of 334,444. Tecnoglass Inc. has a 1 year low of $46.47 and a 1 year high of $90.34. The stock's fifty day moving average is $80.48 and its 200 day moving average is $75.82. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. The firm has a market cap of $3.62 billion, a PE ratio of 24.04 and a beta of 1.78.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.10. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. During the same period in the previous year, the firm earned $0.66 earnings per share. The business's quarterly revenue was up 15.4% on a year-over-year basis. As a group, equities research analysts forecast that Tecnoglass Inc. will post 3.53 earnings per share for the current year.

Tecnoglass Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.78%. Tecnoglass's payout ratio is 16.22%.

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.