Tecnoglass (NASDAQ:TGLS) Trading 6.9% Higher - What's Next?

Tecnoglass Inc. (NASDAQ:TGLS - Get Free Report)'s share price traded up 6.9% during trading on Thursday . The company traded as high as $76.52 and last traded at $74.81. 18,326 shares were traded during mid-day trading, a decline of 93% from the average session volume of 273,350 shares. The stock had previously closed at $69.98.

Analysts Set New Price Targets

TGLS has been the topic of a number of research analyst reports. StockNews.com began coverage on Tecnoglass in a report on Saturday, December 14th. They set a "hold" rating on the stock. Robert W. Baird upped their target price on shares of Tecnoglass from $85.00 to $88.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Finally, DA Davidson lifted their price target on shares of Tecnoglass from $65.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $77.40.

Tecnoglass Price Performance

The firm has a 50-day simple moving average of $77.51 and a 200-day simple moving average of $73.41. The firm has a market capitalization of $3.34 billion, a PE ratio of 22.24 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a $0.15 dividend. This is an increase from Tecnoglass's previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. Tecnoglass's dividend payout ratio (DPR) is presently 17.49%.

Institutional Trading of Tecnoglass

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

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.