Janney Montgomery Scott LLC Takes Position in Tecnoglass Inc. (NASDAQ:TGLS)

Janney Montgomery Scott LLC bought a new position in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,469 shares of the company's stock, valued at approximately $275,000.

A number of other hedge funds have also added to or reduced their stakes in TGLS. The Manufacturers Life Insurance Company bought a new stake in Tecnoglass in the second quarter worth approximately $589,000. SG Americas Securities LLC bought a new stake in Tecnoglass in the third quarter worth approximately $488,000. Signaturefd LLC increased 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 in the last quarter. Riverwater Partners LLC increased its holdings in Tecnoglass by 20.7% in the third quarter. Riverwater Partners LLC now owns 62,664 shares of the company's stock worth $4,355,000 after purchasing an additional 10,731 shares in the last quarter. Finally, X Square Capital LLC increased its holdings in Tecnoglass by 27.1% in the third quarter. X Square Capital LLC now owns 5,545 shares of the company's stock worth $381,000 after purchasing an additional 1,182 shares in the last quarter. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Stock Up 2.4 %

Shares of NASDAQ:TGLS traded up $1.77 during mid-day trading on Friday, hitting $75.81. 126,818 shares of the company traded hands, compared to its average volume of 262,221. The stock has a market cap of $3.56 billion, a P/E ratio of 23.69 and a beta of 1.88. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. Tecnoglass Inc. has a 12-month low of $40.94 and a 12-month high of $86.99. The stock has a 50-day moving average price of $79.54 and a two-hundred day moving average price of $71.95.

Tecnoglass Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.15 per share. This is a boost from Tecnoglass's previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.79%. Tecnoglass's payout ratio is presently 18.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TGLS shares. Robert W. Baird lifted their target price on Tecnoglass from $85.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. DA Davidson boosted their price objective on Tecnoglass from $65.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. StockNews.com initiated coverage on Tecnoglass in a report on Saturday, December 14th. They set a "hold" rating for the company. Sidoti downgraded Tecnoglass from a "buy" rating to a "neutral" rating and set a $78.00 price objective for the company. in a report on Tuesday, October 22nd. Finally, Raymond James downgraded Tecnoglass from a "strong-buy" rating to a "market perform" rating in a report on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $77.40.

Tecnoglass 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.