Tecnoglass Inc. (NASDAQ:TGLS – Get Free Report)’s stock price was down 2.8% on Wednesday . The company traded as low as $51.76 and last traded at $52.00. Approximately 188,612 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 324,478 shares. The stock had previously closed at $53.49.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the company. DA Davidson reissued a “buy” rating and set a $50.00 price objective on shares of Tecnoglass in a research report on Monday, March 4th. Stifel Nicolaus lowered Tecnoglass from a “buy” rating to a “hold” rating and lowered their price target for the company from $48.00 to $45.00 in a research note on Wednesday, February 14th.
Get Our Latest Analysis on TGLS
Tecnoglass Stock Performance
Tecnoglass (NASDAQ:TGLS – Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. Tecnoglass had a net margin of 21.95% and a return on equity of 38.92%. The business had revenue of $194.60 million during the quarter, compared to analysts’ expectations of $199.93 million. Analysts predict that Tecnoglass Inc. will post 3.7 EPS for the current year.
Tecnoglass Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a $0.11 dividend. This is an increase from Tecnoglass’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 0.84%. The ex-dividend date is Wednesday, March 27th. Tecnoglass’s dividend payout ratio (DPR) is 9.35%.
Institutional Investors Weigh In On Tecnoglass
Several hedge funds have recently bought and sold shares of TGLS. B. Riley Wealth Advisors Inc. acquired a new stake in Tecnoglass during the fourth quarter worth approximately $791,000. Vanguard Group Inc. raised its position in shares of Tecnoglass by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 313,319 shares of the company’s stock valued at $14,322,000 after buying an additional 17,879 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Tecnoglass by 5.6% in the fourth quarter. Wellington Management Group LLP now owns 421,086 shares of the company’s stock valued at $19,248,000 after buying an additional 22,169 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Tecnoglass in the fourth quarter valued at approximately $274,000. Finally, Owls Nest Partners IA LLC raised its position in shares of Tecnoglass by 200.1% in the fourth quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock valued at $26,410,000 after buying an additional 385,265 shares in the last quarter. 37.35% of the stock is currently owned by institutional investors and hedge funds.
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 offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.
Featured Articles
- Five stocks we like better than Tecnoglass
- What Is WallStreetBets and What Stocks Are They Targeting?
- Best Bear Market Funds: Top 3 Investment Options to Consider
- Bank Stocks – Best Bank Stocks to Invest In
- Is DraftKings A Good Bet Ahead of Q1 Earnings?
- Insider Trading – What You Need to Know
- Mid-Cap Stocks to Outperform the Market This Cycle
Receive News & Ratings for Tecnoglass Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tecnoglass and related companies with MarketBeat.com's FREE daily email newsletter.