K.J. Harrison & Partners Inc Purchases New Shares in Tecnoglass Inc. (NASDAQ:TGLS)

K.J. Harrison & Partners Inc acquired a new position in Tecnoglass Inc. (NASDAQ:TGLS) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 31,550 shares of the company’s stock, valued at approximately $2,489,000. K.J. Harrison & Partners Inc owned approximately 0.07% of Tecnoglass at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. USA Financial Formulas bought a new position in shares of Tecnoglass in the 4th quarter worth about $26,000. Signaturefd LLC grew its holdings in Tecnoglass by 4,735.7% in the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after purchasing an additional 663 shares during the period. R Squared Ltd bought a new position in shares of Tecnoglass during the fourth quarter valued at approximately $70,000. Ifrah Financial Services Inc. purchased a new position in shares of Tecnoglass during the fourth quarter valued at approximately $214,000. Finally, Yorktown Management & Research Co Inc bought a new stake in shares of Tecnoglass in the 4th quarter worth approximately $222,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TGLS shares. DA Davidson raised their price objective on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Robert W. Baird raised their price target on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, StockNews.com started coverage on Tecnoglass in a research report on Saturday, December 14th. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $77.40.

Tecnoglass Stock Up 1.9 %

TGLS stock opened at $70.02 on Thursday. The stock has a market capitalization of $3.29 billion, a P/E ratio of 21.88 and a beta of 1.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. Tecnoglass Inc. has a 1-year low of $40.94 and a 1-year high of $86.99. The business has a fifty day moving average price of $77.70 and a 200-day moving average price of $73.04.

Tecnoglass Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s payout ratio is 18.75%.

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.