Raymond James Financial Inc. Makes New Investment in Tecnoglass Inc. (NASDAQ:TGLS)

Raymond James Financial Inc. bought a new position in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 54,761 shares of the company's stock, valued at approximately $4,344,000. Raymond James Financial Inc. owned 0.12% of Tecnoglass at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. bought a new position in Tecnoglass in the third quarter valued at approximately $2,211,000. Tidal Investments LLC acquired a new position in shares of Tecnoglass during the third quarter worth $585,000. Barclays PLC boosted its position in Tecnoglass by 32.2% during the 3rd quarter. Barclays PLC now owns 35,376 shares of the company's stock worth $2,429,000 after buying an additional 8,613 shares during the period. Geode Capital Management LLC increased its position in Tecnoglass by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 500,265 shares of the company's stock valued at $34,355,000 after acquiring an additional 22,700 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Tecnoglass by 29.5% during the third quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company's stock worth $134,994,000 after purchasing an additional 447,647 shares during the period. Institutional investors own 37.35% of the company's stock.

Tecnoglass Stock Performance

NASDAQ TGLS traded down $1.18 during trading on Friday, hitting $70.76. 247,040 shares of the company's stock traded hands, compared to its average volume of 368,020. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 22.11 and a beta of 1.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. The business has a 50 day moving average of $73.84 and a 200-day moving average of $74.61. Tecnoglass Inc. has a 12-month low of $40.94 and a 12-month high of $86.99.

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Tecnoglass Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Monday, March 31st. Tecnoglass's payout ratio is currently 17.49%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Tecnoglass in a research 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 given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.