Dimensional Fund Advisors LP Raises Position in Tecnoglass Inc. (NASDAQ:TGLS)

Dimensional Fund Advisors LP grew its holdings in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 12.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 884,527 shares of the company’s stock after purchasing an additional 96,602 shares during the period. Dimensional Fund Advisors LP’s holdings in Tecnoglass were worth $44,385,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. William Blair Investment Management LLC increased its position in shares of Tecnoglass by 8.7% in the 2nd quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock valued at $88,060,000 after acquiring an additional 140,112 shares during the period. Owls Nest Partners IA LLC increased its position in shares of Tecnoglass by 200.1% in the 4th quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock valued at $26,410,000 after acquiring an additional 385,265 shares during the period. Wellington Management Group LLP increased its position in shares of Tecnoglass by 5.6% in the 4th quarter. Wellington Management Group LLP now owns 421,086 shares of the company’s stock valued at $19,248,000 after acquiring an additional 22,169 shares during the period. Clearbridge Investments LLC increased its position in shares of Tecnoglass by 2.3% in the 1st quarter. Clearbridge Investments LLC now owns 389,876 shares of the company’s stock valued at $20,285,000 after acquiring an additional 8,913 shares during the period. Finally, Renaissance Group LLC increased its position in shares of Tecnoglass by 2.6% in the 1st quarter. Renaissance Group LLC now owns 197,133 shares of the company’s stock valued at $10,257,000 after acquiring an additional 5,071 shares during the period. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TGLS shares. Sidoti raised Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Wednesday, June 26th. DA Davidson increased their price target on Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Robert W. Baird increased their price target on Tecnoglass from $68.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. B. Riley downgraded Tecnoglass from a “buy” rating to a “neutral” rating and increased their price target for the stock from $60.00 to $69.00 in a research report on Monday, September 23rd. Finally, Stifel Nicolaus increased their price target on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Tecnoglass currently has an average rating of “Moderate Buy” and an average price target of $63.67.

Tecnoglass Price Performance

NASDAQ:TGLS opened at $68.94 on Monday. Tecnoglass Inc. has a 52 week low of $28.21 and a 52 week high of $69.79. The company has a quick ratio of 1.80, a current ratio of 2.43 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3.24 billion, a PE ratio of 19.87 and a beta of 1.86. The stock’s 50-day moving average price is $59.45 and its 200-day moving average price is $54.55.

Tecnoglass (NASDAQ:TGLS) last posted its earnings results on Thursday, August 8th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The firm had revenue of $219.65 million for the quarter, compared to analysts’ expectations of $219.29 million. During the same period last year, the firm earned $1.12 EPS. The company’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities analysts expect that Tecnoglass Inc. will post 3.42 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Monday, September 30th. Tecnoglass’s dividend payout ratio (DPR) is presently 12.68%.

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.