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

Kingsview Wealth Management LLC purchased a new stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 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 reporting period.

Several other institutional investors have also bought and sold shares of the stock. JFS Wealth Advisors LLC boosted its stake in Tecnoglass by 1,350.0% in the first quarter. JFS Wealth Advisors LLC now owns 435 shares of the company's stock worth $31,000 after purchasing an additional 405 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Tecnoglass by 32.6% during the fourth quarter. Signaturefd LLC now owns 898 shares of the company's stock valued at $71,000 after acquiring an additional 221 shares during the period. Covestor Ltd lifted its stake in shares of Tecnoglass by 6,293.8% during the fourth quarter. Covestor Ltd now owns 1,023 shares of the company's stock valued at $81,000 after acquiring an additional 1,007 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Tecnoglass by 18.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,079 shares of the company's stock valued at $86,000 after acquiring an additional 170 shares during the period. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Tecnoglass by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,350 shares of the company's stock valued at $186,000 after acquiring an additional 149 shares during the period. Institutional investors and hedge funds own 37.35% of the company's stock.

Tecnoglass Stock Down 0.4%

TGLS stock traded down $0.32 during trading on Friday, reaching $74.99. 167,279 shares of the stock were exchanged, compared to its average volume of 335,132. The firm's 50 day moving average is $80.94 and its 200 day moving average is $75.85. Tecnoglass Inc. has a twelve month low of $46.47 and a twelve month high of $90.34. 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 firm has a market cap of $3.52 billion, a P/E ratio of 23.44 and a beta of 1.78.

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

Tecnoglass Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given 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 0.80%. Tecnoglass's dividend payout ratio is currently 16.22%.

Wall Street Analyst Weigh In

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

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.