Tecnoglass Inc. (NASDAQ:TGLS) is Riverwater Partners LLC's 6th Largest Position

Riverwater Partners LLC lessened its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 6.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,349 shares of the company's stock after selling 4,221 shares during the quarter. Tecnoglass comprises about 2.1% of Riverwater Partners LLC's investment portfolio, making the stock its 6th biggest position. Riverwater Partners LLC owned about 0.12% of Tecnoglass worth $4,103,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. New York State Common Retirement Fund boosted its stake in shares of Tecnoglass by 40.0% during the fourth quarter. New York State Common Retirement Fund now owns 20,305 shares of the company's stock valued at $1,611,000 after acquiring an additional 5,800 shares during the last quarter. K.J. Harrison & Partners Inc acquired a new position in shares of Tecnoglass in the fourth quarter valued at approximately $2,489,000. Oppenheimer & Co. Inc. purchased a new position in shares of Tecnoglass during the fourth quarter valued at approximately $265,000. SBI Securities Co. Ltd. acquired a new stake in Tecnoglass during the fourth quarter worth approximately $108,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Tecnoglass by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 184,313 shares of the company's stock worth $14,620,000 after acquiring an additional 913 shares during the period. Hedge funds and other institutional investors own 37.35% of the company's stock.

Analysts Set New Price Targets

Separately, B. Riley initiated coverage on Tecnoglass in a report on Friday, May 16th. They set a "buy" rating and a $100.00 price objective on the stock. Four equities research 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, Tecnoglass presently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

Tecnoglass Price Performance

TGLS opened at $75.23 on Friday. Tecnoglass Inc. has a 1 year low of $40.94 and a 1 year high of $90.34. The company's 50 day simple moving average is $79.18 and its 200 day simple moving average is $76.75. The stock has a market capitalization of $3.53 billion, a PE ratio of 23.51 and a beta of 1.85. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.92 earnings per share 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 last year, the firm posted $0.66 EPS. The business's revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, sell-side analysts expect that Tecnoglass Inc. will post 3.53 EPS for the current year.

Tecnoglass Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, June 30th. This represents a $0.60 annualized dividend and a yield of 0.80%. Tecnoglass's dividend payout ratio is presently 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.

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