Renaissance Technologies LLC Makes New Investment in Tecnoglass Inc. (NASDAQ:TGLS)


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Renaissance Technologies LLC bought a new stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 81,200 shares of the company’s stock, valued at approximately $561,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Squarepoint Ops LLC bought a new stake in shares of Tecnoglass during the third quarter valued at about $60,000. Sowell Financial Services LLC bought a new stake in shares of Tecnoglass in the 4th quarter worth approximately $100,000. Rothschild Investment Corp IL acquired a new stake in shares of Tecnoglass during the 4th quarter valued at $238,000. Finally, Sei Investments Co. boosted its position in shares of Tecnoglass by 6.8% in the 3rd quarter. Sei Investments Co. now owns 107,024 shares of the company’s stock valued at $567,000 after purchasing an additional 6,822 shares during the period. 15.64% of the stock is currently owned by hedge funds and other institutional investors.

Tecnoglass stock opened at $12.13 on Thursday. Tecnoglass Inc. has a 1 year low of $3.02 and a 1 year high of $12.46. The company has a market cap of $578.30 million, a PE ratio of 33.70, a PEG ratio of 0.36 and a beta of 1.67. The company has a current ratio of 2.86, a quick ratio of 2.11 and a debt-to-equity ratio of 1.46. The company’s 50-day moving average is $9.63 and its two-hundred day moving average is $7.09.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Monday, March 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. Tecnoglass had a net margin of 4.45% and a return on equity of 20.49%. Research analysts forecast that Tecnoglass Inc. will post 0.78 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Investors of record on Wednesday, March 31st will be given a $0.0275 dividend. The ex-dividend date of this dividend is Tuesday, March 30th. This represents a $0.11 dividend on an annualized basis and a yield of 0.91%. This is an increase from Tecnoglass’s previous quarterly dividend of $0.03. Tecnoglass’s dividend payout ratio (DPR) is 15.94%.

Several equities analysts have weighed in on the company. DA Davidson lifted their target price on Tecnoglass from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, March 30th. Zacks Investment Research downgraded shares of Tecnoglass from a “buy” rating to a “hold” rating in a research report on Saturday, March 6th. Raymond James lifted their price target on shares of Tecnoglass from $7.00 to $10.00 and gave the company an “outperform” rating in a research report on Tuesday, March 9th. Colliers Securities reissued a “buy” rating and set a $10.00 price objective on shares of Tecnoglass in a research report on Sunday, March 7th. Finally, B. Riley upped their target price on shares of Tecnoglass from $9.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, March 26th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $11.50.

Tecnoglass Company Profile

Tecnoglass Inc, through its subsidiaries, manufactures, supplies, and installs architectural glass, windows, and associated aluminum products for the commercial and residential construction industries in North, Central, and South America. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.

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Institutional Ownership by Quarter for Tecnoglass (NASDAQ:TGLS)

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