Tecnoglass Inc. $TGLS Holdings Trimmed by Wellington Management Group LLP

Wellington Management Group LLP decreased its holdings in shares of Tecnoglass Inc. (NYSE:TGLS) by 3.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 391,385 shares of the company’s stock after selling 12,984 shares during the period. Wellington Management Group LLP’s holdings in Tecnoglass were worth $18,321,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in Tecnoglass in the 4th quarter worth about $28,000. Arax Advisory Partners increased its position in Tecnoglass by 128.4% in the 4th quarter. Arax Advisory Partners now owns 596 shares of the company’s stock worth $30,000 after purchasing an additional 335 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Tecnoglass by 223.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock worth $43,000 after buying an additional 440 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Tecnoglass during the 4th quarter worth $44,000. Finally, Parallel Advisors LLC increased its position in Tecnoglass by 444.0% during the first quarter. Parallel Advisors LLC now owns 952 shares of the company’s stock worth $42,000 after buying an additional 777 shares during the last quarter. 37.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on TGLS shares. Zacks Research raised shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a research report on Friday, June 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Tecnoglass in a research note on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Tecnoglass has an average rating of “Moderate Buy” and a consensus price target of $63.33.

Tecnoglass Trading Down 0.1%

TGLS stock opened at $40.81 on Monday. Tecnoglass Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $73.95. The stock has a market capitalization of $1.81 billion and a price-to-earnings ratio of 14.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.86 and a quick ratio of 1.17. The business has a fifty day moving average price of $43.35 and a 200 day moving average price of $43.71.

Tecnoglass (NYSE:TGLS) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. Tecnoglass had a net margin of 12.35% and a return on equity of 17.84%. The business had revenue of $295.29 million for the quarter. During the same quarter last year, the company earned $1.03 EPS. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. Analysts expect that Tecnoglass Inc. will post 2.58 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.5%. Tecnoglass’s payout ratio is presently 21.13%.

Tecnoglass Profile

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.