William Blair Investment Management LLC Reduces Position in Tecnoglass Inc. (NASDAQ:TGLS)

William Blair Investment Management LLC trimmed its holdings in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 36.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,028,174 shares of the company’s stock after selling 593,029 shares during the quarter. William Blair Investment Management LLC owned 2.19% of Tecnoglass worth $81,555,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of TGLS. Principal Financial Group Inc. bought a new stake in Tecnoglass in the third quarter valued at about $2,211,000. Atria Investments Inc increased its holdings in Tecnoglass by 43.0% in the third quarter. Atria Investments Inc now owns 7,071 shares of the company’s stock valued at $485,000 after buying an additional 2,125 shares during the last quarter. Chesapeake Capital Corp IL bought a new stake in Tecnoglass in the third quarter valued at about $455,000. Intech Investment Management LLC bought a new stake in Tecnoglass in the third quarter valued at about $509,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Tecnoglass by 8.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 183,400 shares of the company’s stock valued at $12,592,000 after buying an additional 13,803 shares during the last quarter. 37.35% of the stock is owned by hedge funds and other institutional investors.

Tecnoglass Stock Up 3.6 %

NASDAQ:TGLS opened at $70.69 on Tuesday. The firm has a market capitalization of $3.32 billion, a PE ratio of 22.09 and a beta of 1.94. The stock has a 50 day moving average of $74.76 and a 200-day moving average of $73.95. Tecnoglass Inc. has a 52 week low of $40.94 and a 52 week high of $86.99. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20.

Tecnoglass Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.85%. Tecnoglass’s dividend payout ratio is presently 17.49%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Tecnoglass in a report on Saturday, December 14th. They set a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $77.40.

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.