Millennium Management LLC Invests $1.83 Million in Tecnoglass Inc. (NASDAQ:TGLS)

Millennium Management LLC acquired a new stake in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 23,010 shares of the company's stock, valued at approximately $1,825,000.

Other institutional investors also recently modified their holdings of the company. Signaturefd LLC boosted its position 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 buying an additional 221 shares during the last quarter. Covestor Ltd boosted its position 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 buying an additional 1,007 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Tecnoglass by 18.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,079 shares of the company's stock worth $86,000 after purchasing an additional 170 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Tecnoglass in the fourth quarter worth about $108,000. Finally, Summit Investment Advisors Inc. boosted its position in Tecnoglass by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,350 shares of the company's stock worth $186,000 after purchasing an additional 149 shares during the last quarter. 37.35% of the stock is owned by hedge funds and other institutional investors.

Tecnoglass Stock Performance

NASDAQ:TGLS traded up $0.61 on Friday, hitting $88.48. The stock had a trading volume of 331,796 shares, compared to its average volume of 369,536. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 27.65 and a beta of 1.85. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The business's 50-day simple moving average is $76.56 and its two-hundred day simple moving average is $76.58. Tecnoglass Inc. has a 52-week low of $40.94 and a 52-week high of $90.16.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.92 EPS for the quarter, topping 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%. During the same period in the prior year, the company earned $0.66 EPS. Tecnoglass's quarterly revenue was up 15.4% compared to the same quarter last year. As a group, research analysts predict that Tecnoglass Inc. will post 3.53 earnings per share for the current year.

Tecnoglass Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Monday, March 31st. Tecnoglass's dividend payout ratio (DPR) is currently 16.22%.

Analyst Ratings Changes

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

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.