Tecnoglass Inc. (NASDAQ:TGLS) Holdings Lowered by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC reduced its position in Tecnoglass Inc. (NASDAQ:TGLS) by 13.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,032 shares of the company’s stock after selling 903 shares during the period. Verdence Capital Advisors LLC’s holdings in Tecnoglass were worth $414,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TGLS. Susquehanna Fundamental Investments LLC acquired a new position in Tecnoglass during the 1st quarter worth $893,000. William Blair Investment Management LLC boosted its holdings in shares of Tecnoglass by 232.8% in the 1st quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock worth $84,017,000 after acquiring an additional 1,129,603 shares in the last quarter. Prevail Innovative Wealth Advisors LLC bought a new stake in Tecnoglass during the 1st quarter worth approximately $2,074,000. Chesapeake Capital Corp IL acquired a new stake in Tecnoglass during the 1st quarter valued at $509,000. Finally, Cynosure Group LLC bought a new position in Tecnoglass in the 1st quarter valued at $359,000. 37.35% of the stock is owned by institutional investors and hedge funds.

Tecnoglass Stock Performance

TGLS stock opened at $79.37 on Tuesday. The company has a market cap of $3.73 billion, a P/E ratio of 24.80 and a beta of 1.86. Tecnoglass Inc. has a twelve month low of $32.69 and a twelve month high of $80.51. The business’s fifty day moving average is $69.01 and its 200-day moving average is $58.52. The company has a quick ratio of 1.80, a current ratio of 2.43 and a debt-to-equity ratio of 0.24.

Tecnoglass (NASDAQ:TGLS) last posted its earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.11. The business had revenue of $237.90 million during the quarter, compared to analysts’ expectations of $240.19 million. Tecnoglass had a return on equity of 28.30% and a net margin of 17.82%. Tecnoglass’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. Equities research analysts forecast that Tecnoglass Inc. will post 3.52 EPS for the current year.

Tecnoglass Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Monday, September 30th. Tecnoglass’s payout ratio is presently 13.75%.

Analyst Ratings Changes

TGLS has been the subject of a number of research reports. B. Riley restated a “neutral” rating and issued a $72.00 target price (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Stifel Nicolaus raised their price target on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a report on Friday, August 9th. DA Davidson upped their price objective on Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Robert W. Baird lifted their target price on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Sidoti lowered Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Tecnoglass has a consensus rating of “Hold” and a consensus target price of $72.40.

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.