Mirae Asset Global Investments Co. Ltd. Takes $687,000 Position in Tecnoglass Inc (TGLS)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Tecnoglass Inc (NASDAQ:TGLS) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 85,070 shares of the company’s stock, valued at approximately $687,000. Mirae Asset Global Investments Co. Ltd. owned 0.23% of Tecnoglass as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Renaissance Technologies LLC grew its stake in shares of Tecnoglass by 117.1% in the 3rd quarter. Renaissance Technologies LLC now owns 95,794 shares of the company’s stock worth $942,000 after purchasing an additional 51,671 shares during the last quarter. Crestline Management LP acquired a new position in shares of Tecnoglass in the third quarter worth about $553,000. California Public Employees Retirement System boosted its holdings in shares of Tecnoglass by 1.7% in the fourth quarter. California Public Employees Retirement System now owns 89,222 shares of the company’s stock worth $720,000 after buying an additional 1,496 shares during the period. Perritt Capital Management Inc. boosted its holdings in shares of Tecnoglass by 17.6% in the fourth quarter. Perritt Capital Management Inc. now owns 139,752 shares of the company’s stock worth $1,128,000 after buying an additional 20,882 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of Tecnoglass by 8,803.0% in the fourth quarter. BlackRock Inc. now owns 53,863 shares of the company’s stock worth $435,000 after buying an additional 53,258 shares during the period. Institutional investors and hedge funds own 4.33% of the company’s stock.

Shares of TGLS opened at $7.61 on Friday. Tecnoglass Inc has a one year low of $7.00 and a one year high of $10.29. The stock has a market capitalization of $304.74 million, a price-to-earnings ratio of 8.95, a PEG ratio of 0.57 and a beta of 1.32. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 1.66.

Tecnoglass (NASDAQ:TGLS) last announced its earnings results on Thursday, March 7th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.17 by $0.10. Tecnoglass had a net margin of 2.39% and a return on equity of 22.76%. The company had revenue of $97.86 million during the quarter, compared to analysts’ expectations of $95.14 million. As a group, analysts anticipate that Tecnoglass Inc will post 0.7 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Thursday, January 31st were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 7.36%. The ex-dividend date of this dividend was Wednesday, January 30th. Tecnoglass’s payout ratio is 65.88%.

Several research analysts have commented on TGLS shares. Zacks Investment Research upgraded shares of Tecnoglass from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a report on Saturday, January 19th. ValuEngine cut shares of Tecnoglass from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Finally, BidaskClub cut shares of Tecnoglass from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $11.75.

In related news, Director Martha L. Byorum sold 5,994 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $8.46, for a total transaction of $50,709.24. Following the completion of the sale, the director now directly owns 79,764 shares in the company, valued at $674,803.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.90% of the company’s stock.

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Tecnoglass Profile

Tecnoglass Inc, through its subsidiaries, manufactures and sells architectural glass, windows, and associated aluminum products for the global commercial and residential construction industries in North, Central, and South America. It offers soft coat, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass.

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Institutional Ownership by Quarter for Tecnoglass (NASDAQ:TGLS)

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