Riverwater Partners LLC Grows Position in Tecnoglass Inc. (NASDAQ:TGLS)

Riverwater Partners LLC raised its holdings in Tecnoglass Inc. (NASDAQ:TGLS) by 20.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,664 shares of the company’s stock after purchasing an additional 10,731 shares during the period. Tecnoglass makes up about 2.2% of Riverwater Partners LLC’s portfolio, making the stock its 5th largest holding. Riverwater Partners LLC owned approximately 0.13% of Tecnoglass worth $4,355,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TGLS. Amalgamated Bank acquired a new stake in shares of Tecnoglass during the 2nd quarter worth $39,000. Signaturefd LLC increased its holdings in Tecnoglass by 4,735.7% in the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after buying an additional 663 shares during the period. X Square Capital LLC raised its position in shares of Tecnoglass by 5.7% in the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after buying an additional 237 shares in the last quarter. PFG Investments LLC bought a new stake in shares of Tecnoglass during the 2nd quarter worth approximately $220,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Tecnoglass during the 1st quarter worth approximately $227,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

Wall Street Analysts Forecast Growth

TGLS has been the subject of several research analyst reports. Robert W. Baird boosted their price objective on shares of Tecnoglass from $76.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday. Stifel Nicolaus boosted their price target on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Sidoti lowered Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research note on Tuesday. B. Riley reissued a “neutral” rating and set a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Finally, DA Davidson lifted their price target on shares of Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $67.33.

Tecnoglass Stock Up 0.6 %

Shares of NASDAQ TGLS opened at $69.14 on Thursday. The company has a 50 day simple moving average of $66.38 and a 200 day simple moving average of $57.24. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80. Tecnoglass Inc. has a 1 year low of $28.21 and a 1 year high of $80.51. The firm has a market cap of $3.25 billion, a PE ratio of 19.93 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The company had revenue of $219.65 million for the quarter, compared to analyst estimates of $219.29 million. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. Tecnoglass’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.12 earnings per share. On average, research analysts forecast that Tecnoglass Inc. will post 3.44 EPS for the current year.

Tecnoglass Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.11 per share. The ex-dividend date is Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.64%. Tecnoglass’s dividend payout ratio (DPR) is 12.68%.

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 provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.