Tecnoglass (NASDAQ:TGLS) Sets New 12-Month High at $55.67

Tecnoglass Inc. (NASDAQ:TGLS - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $55.67 and last traded at $55.67, with a volume of 58458 shares traded. The stock had previously closed at $53.94.

Analyst Ratings Changes

A number of analysts have weighed in on TGLS shares. DA Davidson restated a "buy" rating and set a $50.00 price objective on shares of Tecnoglass in a research note on Monday, March 4th. Stifel Nicolaus downgraded shares of Tecnoglass from a "buy" rating to a "hold" rating and reduced their price target for the company from $48.00 to $45.00 in a research report on Wednesday, February 14th.

Tecnoglass Price Performance

The stock has a market capitalization of $2.61 billion, a PE ratio of 14.43 and a beta of 1.80. The firm's fifty day moving average price is $47.60 and its two-hundred day moving average price is $41.27. The company has a quick ratio of 1.60, a current ratio of 2.27 and a debt-to-equity ratio of 0.30.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last announced its earnings results on Thursday, February 29th. The company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.05. The business had revenue of $194.60 million during the quarter, compared to analyst estimates of $199.93 million. Tecnoglass had a net margin of 21.95% and a return on equity of 38.92%. On average, equities analysts predict that Tecnoglass Inc. will post 3.7 earnings per share for the current year.

Tecnoglass Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.79%. This is a boost from Tecnoglass's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Wednesday, March 27th. Tecnoglass's dividend payout ratio (DPR) is presently 11.43%.

Institutional Investors Weigh In On Tecnoglass

Several hedge funds and other institutional investors have recently made changes to their positions in TGLS. SummerHaven Investment Management LLC grew its position in Tecnoglass by 1.9% during the fourth quarter. SummerHaven Investment Management LLC now owns 13,169 shares of the company's stock valued at $602,000 after buying an additional 250 shares during the period. Bank of New York Mellon Corp grew its position in shares of Tecnoglass by 2.9% during the 1st quarter. Bank of New York Mellon Corp now owns 9,669 shares of the company's stock valued at $406,000 after acquiring an additional 273 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Tecnoglass by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 102,587 shares of the company's stock valued at $4,305,000 after acquiring an additional 281 shares during the period. Moran Wealth Management LLC increased its stake in shares of Tecnoglass by 5.6% in the 4th quarter. Moran Wealth Management LLC now owns 8,914 shares of the company's stock worth $407,000 after purchasing an additional 472 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Tecnoglass by 269.9% during the second quarter. Tower Research Capital LLC TRC now owns 651 shares of the company's stock valued at $34,000 after purchasing an additional 475 shares in the last quarter. Hedge funds and other institutional investors own 37.35% of the company's stock.

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.