Legato Capital Management LLC Increases Stock Position in Tecnoglass Inc. (NASDAQ:TGLS)

Legato Capital Management LLC grew its holdings in Tecnoglass Inc. (NASDAQ:TGLS) by 109.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,790 shares of the company’s stock after buying an additional 5,110 shares during the period. Legato Capital Management LLC’s holdings in Tecnoglass were worth $777,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. USA Financial Formulas purchased a new stake in shares of Tecnoglass in the fourth quarter valued at about $26,000. Signaturefd LLC raised its holdings in shares of Tecnoglass by 4,735.7% in the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after buying an additional 663 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Tecnoglass in the fourth quarter valued at about $70,000. DGS Capital Management LLC purchased a new stake in shares of Tecnoglass in the third quarter valued at about $204,000. Finally, Yorktown Management & Research Co Inc purchased a new stake in shares of Tecnoglass in the fourth quarter valued at about $222,000. 37.35% of the stock is owned by hedge funds and other institutional investors.

Tecnoglass Trading Up 0.6 %

Shares of TGLS opened at $74.11 on Friday. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average is $79.85 and its two-hundred day moving average is $71.65. Tecnoglass Inc. has a twelve month low of $40.94 and a twelve month high of $86.99. The firm has a market capitalization of $3.48 billion, a P/E ratio of 23.16 and a beta of 1.88.

Tecnoglass Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.15 per share. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. This represents a $0.60 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Tuesday, December 31st. Tecnoglass’s dividend payout ratio is presently 18.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Tecnoglass in a report on Saturday, December 14th. They issued a “hold” rating for the company. Raymond James cut shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Sidoti cut shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a report on Tuesday, October 22nd. Robert W. Baird increased their price target on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, DA Davidson increased their price target on shares of Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $77.40.

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.