LPL Financial LLC Buys 38,719 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

LPL Financial LLC boosted its stake in Tecnoglass Inc. (NASDAQ:TGLS – Get Rating) by 153.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,979 shares of the company’s stock after purchasing an additional 38,719 shares during the period. LPL Financial LLC’s holdings in Tecnoglass were worth $1,969,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TGLS. JPMorgan Chase & Co. lifted its stake in shares of Tecnoglass by 39.5% during the 1st quarter. JPMorgan Chase & Co. now owns 25,671 shares of the company’s stock valued at $648,000 after buying an additional 7,269 shares in the last quarter. BlackRock Inc. increased its holdings in Tecnoglass by 107.4% in the 1st quarter. BlackRock Inc. now owns 994,989 shares of the company’s stock valued at $25,114,000 after acquiring an additional 515,151 shares during the last quarter. Sei Investments Co. increased its holdings in Tecnoglass by 45.1% in the 1st quarter. Sei Investments Co. now owns 265,750 shares of the company’s stock valued at $6,708,000 after acquiring an additional 82,567 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Tecnoglass by 39.7% in the 1st quarter. Lazard Asset Management LLC now owns 28,909 shares of the company’s stock valued at $729,000 after acquiring an additional 8,212 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Tecnoglass by 11.8% in the 1st quarter. Renaissance Technologies LLC now owns 122,500 shares of the company’s stock valued at $3,092,000 after acquiring an additional 12,900 shares during the last quarter. Institutional investors own 23.64% of the company’s stock.

Tecnoglass Trading Up 4.2 %

Shares of Tecnoglass stock opened at $45.82 on Tuesday. The company has a fifty day simple moving average of $42.59 and a 200-day simple moving average of $35.82. Tecnoglass Inc. has a 12-month low of $16.05 and a 12-month high of $49.06. The company has a current ratio of 2.05, a quick ratio of 1.47 and a debt-to-equity ratio of 0.42. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 11.90 and a beta of 1.74.

Tecnoglass (NASDAQ:TGLS – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. The firm had revenue of $211.12 million during the quarter, compared to analysts’ expectations of $204.16 million. Tecnoglass had a net margin of 23.34% and a return on equity of 54.65%. On average, equities analysts forecast that Tecnoglass Inc. will post 4.11 EPS for the current fiscal year.

Tecnoglass Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Friday, March 31st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Thursday, March 30th. This is an increase from Tecnoglass’s previous quarterly dividend of $0.08. Tecnoglass’s dividend payout ratio (DPR) is currently 9.35%.

Insider Activity

In other news, COO Christian T. Daes sold 204,632 shares of the stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $42.26, for a total value of $8,647,748.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Tecnoglass news, COO Christian T. Daes sold 204,632 shares of the firm’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $42.26, for a total transaction of $8,647,748.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jose M. Daes sold 275,810 shares of the firm’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $42.26, for a total transaction of $11,655,730.60. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

TGLS has been the topic of a number of research reports. B. Riley boosted their target price on shares of Tecnoglass from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, February 6th. StockNews.com began coverage on shares of Tecnoglass in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Raymond James upped their price target on shares of Tecnoglass from $35.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 28th. Robert W. Baird increased their target price on shares of Tecnoglass from $52.00 to $54.00 in a research report on Friday, May 5th. Finally, DA Davidson upped their price target on shares of Tecnoglass from $48.00 to $53.00 in a research note on Friday, May 5th.

About Tecnoglass

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Tecnoglass, Inc is a holding company, which engages in the design, manufacturing, distribution, marketing, and installation of architectural glass, windows and associated aluminum products for the global commercial and residential construction market. It operates through the following geographical segments: Colombia, United States, Panama, and Other.