Riverwater Partners LLC Purchases 10,731 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Riverwater Partners LLC grew its holdings in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 20.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,664 shares of the company’s stock after acquiring an additional 10,731 shares during the period. Tecnoglass accounts for approximately 2.2% of Riverwater Partners LLC’s investment portfolio, making the stock its 5th biggest holding. Riverwater Partners LLC’s holdings in Tecnoglass were worth $4,355,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. William Blair Investment Management LLC boosted its stake in Tecnoglass by 232.8% during the first quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock worth $84,017,000 after acquiring an additional 1,129,603 shares in the last quarter. Ensign Peak Advisors Inc boosted its position in shares of Tecnoglass by 219.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after purchasing an additional 149,933 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Tecnoglass by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after purchasing an additional 96,602 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Tecnoglass in the 2nd quarter valued at about $3,929,000. Finally, Prevail Innovative Wealth Advisors LLC acquired a new position in Tecnoglass during the 1st quarter worth approximately $2,074,000. 37.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TGLS has been the subject of a number of research reports. Stifel Nicolaus raised their price objective on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Robert W. Baird increased their target price on Tecnoglass from $76.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday. DA Davidson boosted their price target 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. Raymond James downgraded shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday. Finally, Sidoti cut shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $67.33.

Tecnoglass Stock Performance

Shares of TGLS stock opened at $69.14 on Thursday. Tecnoglass Inc. has a one year low of $28.21 and a one year high of $80.51. The company has a market cap of $3.25 billion, a P/E ratio of 19.93 and a beta of 1.86. The firm has a 50-day moving average of $66.38 and a 200-day moving average of $57.24. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.83 by $0.03. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. The firm had revenue of $219.65 million during the quarter, compared to analyst estimates of $219.29 million. During the same quarter last year, the business posted $1.12 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities research analysts forecast that Tecnoglass Inc. will post 3.44 EPS for the current fiscal year.

Tecnoglass Announces Dividend

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

About Tecnoglass

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.