Tecnoglass (NASDAQ:TGLS) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Tecnoglass (NASDAQ:TGLS – Get Rating) in a research report report published on Thursday morning. The firm issued a buy rating on the stock.

Several other research firms have also weighed in on TGLS. Raymond James raised their target price on Tecnoglass from $35.00 to $42.00 and gave the company a sector perform rating in a report on Tuesday, February 28th. Robert W. Baird lifted their price objective on Tecnoglass from $42.00 to $50.00 in a research note on Friday, March 3rd. Finally, B. Riley lifted their price objective on Tecnoglass from $40.00 to $43.00 and gave the stock a buy rating in a research note on Monday, February 6th.

Tecnoglass Price Performance

NASDAQ TGLS opened at $36.96 on Thursday. Tecnoglass has a fifty-two week low of $16.05 and a fifty-two week high of $43.84. The stock’s 50-day moving average is $35.47 and its two-hundred day moving average is $28.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.46 and a current ratio of 2.06.

Tecnoglass Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, March 31st will be paid a $0.09 dividend. The ex-dividend date is Thursday, March 30th. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.97%. Tecnoglass’s payout ratio is presently 9.15%.

Insider Activity at Tecnoglass

In related news, COO Christian T. Daes sold 204,632 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $42.26, for a total transaction of $8,647,748.32. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, COO Christian T. Daes sold 204,632 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $42.26, for a total transaction of $8,647,748.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jose M. Daes sold 275,810 shares of the business’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $42.26, for a total value of $11,655,730.60. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Tecnoglass

A number of institutional investors have recently added to or reduced their stakes in the stock. Portolan Capital Management LLC boosted its holdings in Tecnoglass by 74.5% during the third quarter. Portolan Capital Management LLC now owns 1,099,591 shares of the company’s stock valued at $23,080,000 after purchasing an additional 469,315 shares in the last quarter. BlackRock Inc. boosted its holdings in Tecnoglass by 107.4% during the first quarter. BlackRock Inc. now owns 994,989 shares of the company’s stock valued at $25,114,000 after purchasing an additional 515,151 shares in the last quarter. Millennium Management LLC boosted its holdings in Tecnoglass by 36.4% during the fourth quarter. Millennium Management LLC now owns 830,894 shares of the company’s stock valued at $25,567,000 after purchasing an additional 221,679 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Tecnoglass by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 363,361 shares of the company’s stock valued at $11,180,000 after purchasing an additional 8,025 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Tecnoglass by 26.3% during the second quarter. Sei Investments Co. now owns 335,741 shares of the company’s stock valued at $5,892,000 after purchasing an additional 69,991 shares in the last quarter. 23.64% of the stock is owned by institutional investors and hedge funds.

About Tecnoglass

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Tecnoglass, Inc is a holding company, which engages in the design, manufacturing, distribution, marketing, and installation of architectural glass, windows and associated aluminum products for the global commercial and residential construction market. It operates through the following geographical segments: Colombia, United States, Panama, and Other.