Clearbridge Investments LLC Has $20.29 Million Stock Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

Clearbridge Investments LLC raised its stake in Tecnoglass Inc. (NASDAQ:TGLS) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 389,876 shares of the company’s stock after purchasing an additional 8,913 shares during the period. Clearbridge Investments LLC owned 0.83% of Tecnoglass worth $20,285,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. William Blair Investment Management LLC grew its stake in Tecnoglass by 232.8% in the 1st quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock valued at $84,017,000 after buying an additional 1,129,603 shares during the last quarter. Cooke & Bieler LP grew its position in shares of Tecnoglass by 35.8% in the fourth quarter. Cooke & Bieler LP now owns 1,300,179 shares of the company’s stock valued at $59,431,000 after purchasing an additional 342,451 shares during the last quarter. Polaris Capital Management LLC increased its stake in shares of Tecnoglass by 0.6% during the first quarter. Polaris Capital Management LLC now owns 902,064 shares of the company’s stock worth $46,934,000 after purchasing an additional 5,300 shares during the period. Victory Capital Management Inc. lifted its holdings in Tecnoglass by 58.8% during the 4th quarter. Victory Capital Management Inc. now owns 815,756 shares of the company’s stock worth $37,288,000 after purchasing an additional 302,163 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Tecnoglass by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 732,736 shares of the company’s stock valued at $33,495,000 after buying an additional 37,091 shares in the last quarter. 37.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. B. Riley reissued a “buy” rating and issued a $60.00 target price (down previously from $65.00) on shares of Tecnoglass in a research report on Friday, May 10th. Robert W. Baird cut their price objective on shares of Tecnoglass from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Tuesday, May 7th. Finally, Sidoti raised shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Wednesday, June 26th. Two research 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.33.

Tecnoglass Price Performance

TGLS traded down $1.93 on Wednesday, hitting $51.24. 273,165 shares of the stock were exchanged, compared to its average volume of 399,452. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 14.99 and a beta of 1.85. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.33 and a quick ratio of 1.72. Tecnoglass Inc. has a 12 month low of $28.21 and a 12 month high of $59.76. The business has a 50-day moving average of $50.37 and a two-hundred day moving average of $49.62.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). Tecnoglass had a return on equity of 31.85% and a net margin of 19.97%. The firm had revenue of $192.09 million for the quarter, compared to analyst estimates of $191.04 million. During the same quarter in the prior year, the business posted $1.08 EPS. The business’s revenue was down 5.1% on a year-over-year basis. Sell-side analysts forecast that Tecnoglass Inc. will post 3.37 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, June 28th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.86%. Tecnoglass’s dividend payout ratio (DPR) is currently 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.