Vest Financial LLC Buys Shares of 49,765 Tecnoglass Inc. (NASDAQ:TGLS)

Vest Financial LLC acquired a new position in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 49,765 shares of the company's stock, valued at approximately $3,561,000. Vest Financial LLC owned about 0.11% of Tecnoglass as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of Tecnoglass by 49.2% in the 4th quarter. FMR LLC now owns 5,412,322 shares of the company's stock worth $429,305,000 after acquiring an additional 1,785,602 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Tecnoglass by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 993,514 shares of the company's stock worth $78,811,000 after buying an additional 14,369 shares during the period. Polaris Capital Management LLC increased its stake in shares of Tecnoglass by 2.5% in the fourth quarter. Polaris Capital Management LLC now owns 860,964 shares of the company's stock worth $68,292,000 after buying an additional 20,800 shares during the period. Vanguard Group Inc. increased its stake in shares of Tecnoglass by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 517,435 shares of the company's stock worth $41,043,000 after buying an additional 31,493 shares during the period. Finally, Capital World Investors purchased a new position in shares of Tecnoglass in the fourth quarter worth $23,530,000. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Trading Up 0.7%

Tecnoglass stock traded up $0.61 during mid-day trading on Friday, reaching $88.48. 331,796 shares of the company traded hands, compared to its average volume of 369,536. The firm's 50 day moving average price is $76.56 and its 200 day moving average price is $76.58. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 27.65 and a beta of 1.85. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. Tecnoglass Inc. has a 52-week low of $40.94 and a 52-week high of $90.34.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.92 earnings per share for the quarter, topping 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%. The firm's revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. On average, analysts anticipate that Tecnoglass Inc. will post 3.53 earnings per share for the current fiscal year.

Tecnoglass Announces Dividend

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 $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Monday, March 31st. Tecnoglass's payout ratio is 16.22%.

Analysts Set New Price Targets

Separately, B. Riley initiated coverage on shares of Tecnoglass in a research note 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Tecnoglass currently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

Tecnoglass Company 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.