SummerHaven Investment Management LLC Has $602,000 Stock Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

SummerHaven Investment Management LLC increased its position in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 1.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 13,169 shares of the company’s stock after purchasing an additional 250 shares during the period. SummerHaven Investment Management LLC’s holdings in Tecnoglass were worth $602,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thompson Siegel & Walmsley LLC bought a new stake in shares of Tecnoglass during the third quarter worth about $26,000. PNC Financial Services Group Inc. increased its holdings in Tecnoglass by 27.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,917 shares of the company’s stock worth $96,000 after purchasing an additional 632 shares in the last quarter. Handelsbanken Fonder AB purchased a new stake in shares of Tecnoglass in the fourth quarter worth approximately $201,000. Clough Capital Partners L P bought a new position in shares of Tecnoglass in the third quarter valued at approximately $216,000. Finally, Linden Thomas Advisory Services LLC boosted its holdings in Tecnoglass by 14.8% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 6,999 shares of the company’s stock worth $231,000 after acquiring an additional 901 shares during the last quarter. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Price Performance

Shares of NASDAQ TGLS opened at $56.64 on Tuesday. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 13.96 and a beta of 1.80. The stock has a fifty day simple moving average of $50.74 and a two-hundred day simple moving average of $43.75. The company has a current ratio of 2.27, a quick ratio of 1.60 and a debt-to-equity ratio of 0.30. Tecnoglass Inc. has a 1-year low of $28.21 and a 1-year high of $59.76.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.05. The company had revenue of $194.60 million during the quarter, compared to analyst estimates of $199.93 million. Tecnoglass had a return on equity of 38.92% and a net margin of 21.95%. Analysts anticipate that Tecnoglass Inc. will post 3.7 earnings per share for the current year.

Tecnoglass Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a $0.11 dividend. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Wednesday, March 27th. Tecnoglass’s dividend payout ratio (DPR) is presently 11.43%.

Analyst Ratings Changes

A number of research firms recently weighed in on TGLS. DA Davidson reissued a “buy” rating and set a $50.00 price target on shares of Tecnoglass in a research report on Monday, March 4th. B. Riley upped their price objective on Tecnoglass from $51.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Stifel Nicolaus lowered Tecnoglass from a “buy” rating to a “hold” rating and decreased their target price for the company from $48.00 to $45.00 in a research report on Wednesday, February 14th. Finally, Robert W. Baird boosted their price target on shares of Tecnoglass from $56.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tecnoglass presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Tecnoglass 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.