Silvercrest Asset Management Group LLC Purchases New Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Tecnoglass by 49.2% during the 4th quarter. FMR LLC now owns 5,412,322 shares of the company's stock worth $429,305,000 after buying an additional 1,785,602 shares during the last quarter. Dimensional Fund Advisors LP increased its stake 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 acquiring an additional 14,369 shares during the last quarter. Polaris Capital Management LLC increased its stake in Tecnoglass by 2.5% during the fourth quarter. Polaris Capital Management LLC now owns 860,964 shares of the company's stock worth $68,292,000 after acquiring an additional 20,800 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Tecnoglass by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 517,435 shares of the company's stock worth $41,043,000 after purchasing an additional 31,493 shares during the period. Finally, Capital World Investors acquired a new position in shares of Tecnoglass in the 4th quarter valued at about $23,530,000. Hedge funds and other institutional investors own 37.35% of the company's stock.

Tecnoglass Stock Down 0.6%

Shares of NASDAQ TGLS traded down $0.52 on Friday, hitting $84.19. The company had a trading volume of 314,346 shares, compared to its average volume of 370,378. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. Tecnoglass Inc. has a 12-month low of $40.94 and a 12-month high of $89.36. The firm has a market capitalization of $3.96 billion, a P/E ratio of 26.31 and a beta of 1.85. The business has a 50 day moving average of $73.50 and a two-hundred day moving average of $75.64.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last released its quarterly earnings results 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 quarter last year, the firm posted $0.66 EPS. The firm'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 fiscal year.

Tecnoglass Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.71%. The ex-dividend date was Monday, March 31st. Tecnoglass's dividend payout ratio (DPR) is 16.22%.

Wall Street Analysts Forecast Growth

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