Cornerstone Investment Partners LLC Buys Shares of 5,645 Tecnoglass Inc. (NASDAQ:TGLS)

Cornerstone Investment Partners LLC bought a new stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,645 shares of the company’s stock, valued at approximately $258,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Calamos Advisors LLC lifted its stake in Tecnoglass by 3.3% during the 4th quarter. Calamos Advisors LLC now owns 105,491 shares of the company’s stock valued at $4,822,000 after acquiring an additional 3,343 shares during the period. HBK Sorce Advisory LLC bought a new position in shares of Tecnoglass in the 4th quarter worth approximately $234,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Tecnoglass by 19.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,826 shares of the company’s stock worth $2,232,000 after purchasing an additional 8,074 shares during the period. Kingswood Wealth Advisors LLC bought a new position in shares of Tecnoglass in the 4th quarter worth approximately $640,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Tecnoglass in the 4th quarter worth approximately $410,000. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Stock Performance

NASDAQ TGLS traded down $0.40 on Friday, reaching $56.14. 226,772 shares of the stock were exchanged, compared to its average volume of 348,267. Tecnoglass Inc. has a one year low of $28.21 and a one year high of $59.76. The firm has a market capitalization of $2.64 billion, a PE ratio of 14.36 and a beta of 1.80. The company’s 50-day simple moving average is $49.33 and its two-hundred day simple moving average is $42.55. 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 (NASDAQ:TGLS) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.80 earnings per share (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 analyst estimates of $199.93 million. Analysts expect that Tecnoglass Inc. will post 3.7 EPS for the current fiscal year.

Tecnoglass Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.11 per share. 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 yield of 0.78%. The ex-dividend date of this dividend is Wednesday, March 27th. Tecnoglass’s dividend payout ratio (DPR) is 11.43%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TGLS. B. Riley increased their price objective on shares of Tecnoglass from $51.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. DA Davidson reiterated a “buy” rating and issued a $50.00 price objective on shares of Tecnoglass in a research note on Monday, March 4th. Stifel Nicolaus cut shares of Tecnoglass from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $48.00 to $45.00 in a research note on Wednesday, February 14th. Finally, Robert W. Baird raised their target price on shares of Tecnoglass from $56.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tecnoglass currently has an average rating of “Moderate Buy” and an average target price of $54.00.

Tecnoglass Company 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.