Ifrah Financial Services Inc. Invests $214,000 in Tecnoglass Inc. (NASDAQ:TGLS)

Ifrah Financial Services Inc. purchased a new position in Tecnoglass Inc. (NASDAQ:TGLS) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,695 shares of the company’s stock, valued at approximately $214,000.

Several other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. bought a new position in shares of Tecnoglass in the third quarter worth approximately $2,211,000. Tidal Investments LLC bought a new position in Tecnoglass in the 3rd quarter valued at approximately $585,000. Barclays PLC boosted its stake in Tecnoglass by 32.2% during the 3rd quarter. Barclays PLC now owns 35,376 shares of the company’s stock valued at $2,429,000 after purchasing an additional 8,613 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Tecnoglass by 262.4% in the 3rd quarter. GSA Capital Partners LLP now owns 20,089 shares of the company’s stock worth $1,379,000 after purchasing an additional 14,545 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Tecnoglass by 4.8% in the third quarter. Geode Capital Management LLC now owns 500,265 shares of the company’s stock worth $34,355,000 after purchasing an additional 22,700 shares during the last quarter. 37.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on TGLS. StockNews.com initiated coverage on Tecnoglass in a research report on Saturday, December 14th. They set a “hold” rating on the stock. Sidoti lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a research note on Tuesday, October 22nd. DA Davidson increased their price objective on shares of Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Raymond James cut shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird boosted their target price on shares of Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. 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, Tecnoglass currently has a consensus rating of “Hold” and an average target price of $77.40.

Tecnoglass Price Performance

Shares of NASDAQ:TGLS opened at $75.81 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $3.56 billion, a PE ratio of 23.69 and a beta of 1.88. The firm’s 50 day moving average price is $79.40 and its 200-day moving average price is $72.24. Tecnoglass Inc. has a twelve month low of $40.94 and a twelve month high of $86.99.

Tecnoglass Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Tecnoglass’s previous quarterly dividend of $0.11. This represents a $0.60 annualized dividend and a yield of 0.79%. Tecnoglass’s dividend payout ratio (DPR) is presently 18.75%.

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.