11,731 Shares in Tecnoglass Inc. (NASDAQ:TGLS) Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,731 shares of the company’s stock, valued at approximately $589,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Crossmark Global Holdings Inc. raised its holdings in shares of Tecnoglass by 3.2% in the 2nd 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 increased its position in Tecnoglass by 5.7% during the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after purchasing an additional 237 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in Tecnoglass by 2.2% in the second quarter. SummerHaven Investment Management LLC now owns 13,681 shares of the company’s stock valued at $687,000 after buying an additional 292 shares during the period. Amalgamated Bank acquired a new position in Tecnoglass during the second quarter valued at approximately $39,000. Finally, Linden Thomas Advisory Services LLC lifted its position in Tecnoglass by 10.0% during the second quarter. Linden Thomas Advisory Services LLC now owns 10,150 shares of the company’s stock valued at $509,000 after buying an additional 920 shares in the last quarter. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. DA Davidson raised their target price on shares of Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Sidoti raised Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Wednesday, June 26th. Stifel Nicolaus boosted their price objective on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. B. Riley reiterated a “neutral” rating and issued a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Finally, Robert W. Baird boosted 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. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.17.

Tecnoglass Stock Performance

Shares of TGLS stock opened at $76.12 on Wednesday. The company’s fifty day moving average price is $63.52 and its two-hundred day moving average price is $56.18. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80. The firm has a market capitalization of $3.58 billion, a P/E ratio of 21.76 and a beta of 1.86. Tecnoglass Inc. has a 12 month low of $28.21 and a 12 month high of $77.02.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $219.29 million. During the same quarter in the prior year, the business posted $1.12 earnings per share. Tecnoglass’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, research analysts anticipate that Tecnoglass Inc. will post 3.44 earnings per share for the current fiscal year.

Tecnoglass Announces Dividend

The business also recently declared 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 0.58%. The ex-dividend date is Monday, September 30th. Tecnoglass’s payout ratio is currently 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.