Empowered Funds LLC trimmed its position in Tecnoglass Inc. (NASDAQ:TGLS – Free Report) by 14.6% in the first quarter, HoldingsChannel.com reports. The firm owned 59,054 shares of the company’s stock after selling 10,066 shares during the quarter. Empowered Funds LLC’s holdings in Tecnoglass were worth $3,073,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in Tecnoglass in the first quarter worth approximately $560,000. Capstone Investment Advisors LLC lifted its position in Tecnoglass by 57.5% in the first quarter. Capstone Investment Advisors LLC now owns 47,368 shares of the company’s stock worth $2,465,000 after purchasing an additional 17,292 shares during the period. Commonwealth Equity Services LLC lifted its position in Tecnoglass by 295.5% in the first quarter. Commonwealth Equity Services LLC now owns 20,630 shares of the company’s stock worth $1,073,000 after purchasing an additional 15,414 shares during the period. Renaissance Group LLC lifted its position in Tecnoglass by 2.6% in the first quarter. Renaissance Group LLC now owns 197,133 shares of the company’s stock worth $10,257,000 after purchasing an additional 5,071 shares during the period. Finally, Verdence Capital Advisors LLC acquired a new stake in Tecnoglass in the first quarter worth approximately $356,000. 37.35% of the stock is currently owned by institutional investors and hedge funds.
Tecnoglass Price Performance
Shares of NASDAQ:TGLS opened at $54.29 on Friday. The stock has a fifty day moving average of $50.35 and a 200-day moving average of $49.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.72 and a current ratio of 2.33. Tecnoglass Inc. has a one year low of $28.21 and a one year high of $59.76. The company has a market capitalization of $2.55 billion, a PE ratio of 15.65 and a beta of 1.85.
Tecnoglass Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.81%. The ex-dividend date is Friday, June 28th. Tecnoglass’s dividend payout ratio (DPR) is currently 12.68%.
Analyst Upgrades and Downgrades
TGLS has been the subject of a number of research analyst reports. Sidoti upgraded Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Wednesday, June 26th. Robert W. Baird cut their price objective on Tecnoglass from $65.00 to $64.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th. Finally, B. Riley reiterated a “buy” rating and set a $60.00 price objective (down previously from $65.00) on shares of Tecnoglass in a research report on Friday, May 10th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $55.33.
View Our Latest Report on TGLS
Tecnoglass 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.
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