Handelsbanken Fonder AB Makes New $201,000 Investment in Tecnoglass Inc. (NASDAQ:TGLS)

Handelsbanken Fonder AB purchased a new stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,400 shares of the company’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd raised its position in shares of Tecnoglass by 82.6% in the third quarter. Qube Research & Technologies Ltd now owns 183,119 shares of the company’s stock worth $6,036,000 after buying an additional 82,833 shares in the last quarter. Wellington Management Group LLP boosted its position in Tecnoglass by 21.6% during the 3rd quarter. Wellington Management Group LLP now owns 398,917 shares of the company’s stock valued at $13,148,000 after buying an additional 70,900 shares during the period. Impax Asset Management Group plc bought a new stake in Tecnoglass in the 3rd quarter worth $3,296,000. Seven Eight Capital LP increased its position in shares of Tecnoglass by 207.6% during the third quarter. Seven Eight Capital LP now owns 37,663 shares of the company’s stock valued at $1,241,000 after buying an additional 25,420 shares during the period. Finally, American Century Companies Inc. raised its holdings in Tecnoglass by 84.6% in the third quarter. American Century Companies Inc. now owns 2,105,685 shares of the company’s stock worth $69,403,000 after purchasing an additional 965,316 shares in the last quarter. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Tecnoglass Stock Performance

NASDAQ:TGLS opened at $54.48 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.60 and a current ratio of 2.27. The stock’s fifty day moving average is $51.55 and its 200 day moving average is $44.18. The firm has a market capitalization of $2.56 billion, a PE ratio of 14.15 and a beta of 1.79. Tecnoglass Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $59.76.

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

Tecnoglass Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were paid a dividend of $0.11 per share. This is a boost from Tecnoglass’s previous quarterly dividend of $0.09. The ex-dividend date was Wednesday, March 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.81%. Tecnoglass’s dividend payout ratio is currently 11.43%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TGLS shares. Robert W. Baird boosted their price objective on shares of Tecnoglass from $56.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Sidoti lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and boosted their target price for the company from $56.00 to $59.00 in a research report on Wednesday. B. Riley raised their price target on Tecnoglass from $51.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. DA Davidson reiterated a “buy” rating and set a $50.00 target price on shares of Tecnoglass in a research report on Monday, March 4th. Finally, Stifel Nicolaus cut Tecnoglass from a “buy” rating to a “hold” rating and lowered their price target for the stock from $48.00 to $45.00 in a report on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.83.

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.