Tecnoglass (NASDAQ:TGLS) Stock Price Up 5.4% – Here’s What Happened

Tecnoglass Inc. (NASDAQ:TGLS) shares were up 5.4% during trading on Monday . The company traded as high as $71.68 and last traded at $71.89. Approximately 20,110 shares were traded during trading, a decline of 94% from the average daily volume of 355,099 shares. The stock had previously closed at $68.23.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Tecnoglass in a report on Saturday, December 14th. They set a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $77.40.

Tecnoglass Stock Performance

The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 21.82 and a beta of 1.94. The company’s 50 day simple moving average is $74.67 and its 200 day simple moving average is $74.01. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21.

Tecnoglass Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 0.86%. Tecnoglass’s payout ratio is 17.49%.

Hedge Funds Weigh In On Tecnoglass

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TGLS. USA Financial Formulas acquired a new stake in shares of Tecnoglass in the fourth quarter valued at $26,000. R Squared Ltd acquired a new stake in Tecnoglass in the 4th quarter valued at about $70,000. Signaturefd LLC boosted its position in shares of Tecnoglass by 32.6% during the 4th quarter. Signaturefd LLC now owns 898 shares of the company’s stock valued at $71,000 after purchasing an additional 221 shares in the last quarter. Covestor Ltd grew its position in Tecnoglass by 6,293.8% in the fourth quarter. Covestor Ltd now owns 1,023 shares of the company’s stock worth $81,000 after buying an additional 1,007 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of Tecnoglass by 18.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,079 shares of the company’s stock valued at $86,000 after buying an additional 170 shares in the last quarter. 37.35% of the stock is owned by institutional investors.

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.