Northern Trust Corp Acquires 15,162 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Northern Trust Corp lifted its stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 8.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 201,275 shares of the company's stock after acquiring an additional 15,162 shares during the period. Northern Trust Corp owned approximately 0.43% of Tecnoglass worth $15,965,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Summit Investment Advisors Inc. boosted its holdings in shares of Tecnoglass by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,350 shares of the company's stock worth $186,000 after acquiring an additional 149 shares during the period. Quadrant Capital Group LLC boosted its stake in Tecnoglass by 18.7% during the fourth 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 period. Signaturefd LLC boosted its stake in Tecnoglass by 32.6% during the fourth quarter. Signaturefd LLC now owns 898 shares of the company's stock valued at $71,000 after buying an additional 221 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in Tecnoglass by 3.0% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 9,882 shares of the company's stock valued at $784,000 after buying an additional 286 shares during the period. Finally, USA Financial Formulas bought a new stake in Tecnoglass during the fourth quarter valued at $26,000. 37.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, B. Riley started coverage on Tecnoglass in a research report on Friday. They set a "buy" rating and a $100.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

Tecnoglass Price Performance

NASDAQ TGLS traded up $1.74 during trading hours on Friday, reaching $86.14. 407,919 shares of the stock traded hands, compared to its average volume of 369,097. The stock has a 50 day simple moving average of $72.11 and a two-hundred day simple moving average of $75.23. Tecnoglass Inc. has a 1 year low of $40.94 and a 1 year 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 company has a market cap of $4.05 billion, a price-to-earnings ratio of 26.92 and a beta of 1.85.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last released its quarterly earnings data 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%. The business's revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS. On average, analysts predict that Tecnoglass Inc. will post 3.53 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were issued a $0.15 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.70%. Tecnoglass's dividend payout ratio is currently 16.22%.

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.