Silvercrest Asset Management Group LLC Buys Shares of 53,448 Tecnoglass Inc. (NASDAQ:TGLS)

Silvercrest Asset Management Group LLC purchased a new stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 53,448 shares of the company's stock, valued at approximately $4,239,000. Silvercrest Asset Management Group LLC owned approximately 0.11% of Tecnoglass as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. R Squared Ltd acquired a new stake in Tecnoglass during the fourth quarter worth about $70,000. Signaturefd LLC raised its holdings in Tecnoglass by 32.6% in the 4th 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 raised its holdings in Tecnoglass by 6,293.8% in the 4th 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 raised its holdings in Tecnoglass by 18.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,079 shares of the company's stock valued at $86,000 after buying an additional 170 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Tecnoglass in the 4th quarter valued at approximately $108,000. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Tecnoglass Stock Performance

Shares of NASDAQ TGLS traded down $0.52 during mid-day trading on Friday, reaching $84.19. 314,346 shares of the company's stock were exchanged, compared to its average volume of 371,811. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 26.31 and a beta of 1.85. Tecnoglass Inc. has a 52 week low of $40.94 and a 52 week high of $89.36. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. The firm has a 50-day moving average price of $73.79 and a two-hundred day moving average price of $75.82.

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

Tecnoglass Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Monday, March 31st. Tecnoglass's dividend payout ratio is currently 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.