Riverwater Partners LLC Has $4.36 Million Stock Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

Riverwater Partners LLC lifted its stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 20.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,664 shares of the company's stock after purchasing an additional 10,731 shares during the period. Tecnoglass accounts for approximately 2.2% of Riverwater Partners LLC's holdings, making the stock its 5th largest position. Riverwater Partners LLC owned about 0.13% of Tecnoglass worth $4,355,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TGLS. Crossmark Global Holdings Inc. boosted its position in shares of Tecnoglass by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company's stock worth $355,000 after purchasing an additional 220 shares during the period. X Square Capital LLC boosted its holdings in Tecnoglass by 5.7% in the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company's stock worth $219,000 after buying an additional 237 shares during the period. SummerHaven Investment Management LLC increased its stake in Tecnoglass by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 13,681 shares of the company's stock worth $687,000 after buying an additional 292 shares in the last quarter. Signaturefd LLC raised its holdings in Tecnoglass by 4,735.7% during the third quarter. Signaturefd LLC now owns 677 shares of the company's stock valued at $46,000 after acquiring an additional 663 shares during the period. Finally, Amalgamated Bank purchased a new position in shares of Tecnoglass in the second quarter valued at about $39,000. 37.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on TGLS shares. Raymond James cut Tecnoglass from a "strong-buy" rating to a "market perform" rating in a research report on Tuesday. B. Riley reiterated a "neutral" rating and set a $72.00 price objective (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Stifel Nicolaus boosted their target price on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a "hold" rating in a report on Friday, August 9th. Robert W. Baird raised their target price on shares of Tecnoglass from $76.00 to $85.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Sidoti cut shares of Tecnoglass from a "buy" rating to a "neutral" rating and set a $78.00 price target on the stock. in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Tecnoglass currently has an average rating of "Hold" and a consensus price target of $67.33.

Tecnoglass Price Performance

TGLS traded up $0.58 during trading hours on Thursday, hitting $69.72. The company's stock had a trading volume of 163,347 shares, compared to its average volume of 374,415. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 20.09 and a beta of 1.86. The business's 50-day moving average price is $66.58 and its 200-day moving average price is $57.33. The company has a current ratio of 2.43, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24. Tecnoglass Inc. has a 12 month low of $28.21 and a 12 month high of $80.51.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.03. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. The firm had revenue of $219.65 million for the quarter, compared to the consensus estimate of $219.29 million. During the same period in the previous year, the firm posted $1.12 EPS. The business's quarterly revenue was down 2.5% on a year-over-year basis. Sell-side analysts expect that Tecnoglass Inc. will post 3.44 earnings per share for the current fiscal year.

Tecnoglass Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Monday, September 30th. Tecnoglass's payout ratio is 12.68%.

Tecnoglass Company 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.