Bank of America Corp DE Has $11.58 Million Stock Position in Tecnoglass Inc. (NASDAQ:TGLS)

Bank of America Corp DE decreased its stake in Tecnoglass Inc. (NASDAQ:TGLS) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,027 shares of the company’s stock after selling 9,317 shares during the period. Bank of America Corp DE owned approximately 0.31% of Tecnoglass worth $11,583,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TGLS. R Squared Ltd acquired a new stake in shares of Tecnoglass in the fourth quarter worth $70,000. Signaturefd LLC grew its stake in shares of Tecnoglass by 32.6% in the fourth quarter. Signaturefd LLC now owns 898 shares of the company’s stock worth $71,000 after acquiring an additional 221 shares during the last quarter. Covestor Ltd grew its stake in shares of Tecnoglass by 6,293.8% in the fourth quarter. Covestor Ltd now owns 1,023 shares of the company’s stock worth $81,000 after acquiring an additional 1,007 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Tecnoglass by 18.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,079 shares of the company’s stock worth $86,000 after acquiring an additional 170 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Tecnoglass in the fourth quarter worth $108,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley began coverage on shares of Tecnoglass in a research note on Friday, May 16th. They issued a “buy” rating and a $100.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tecnoglass has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Tecnoglass Stock Down 0.2%

TGLS opened at $84.73 on Friday. Tecnoglass Inc. has a fifty-two week low of $40.94 and a fifty-two week high of $89.36. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. The firm’s fifty day moving average price is $73.50 and its two-hundred day moving average price is $75.64. The company has a market capitalization of $3.98 billion, a P/E ratio of 26.48 and a beta of 1.85.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.10. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. During the same quarter in the prior year, the company earned $0.66 EPS. Tecnoglass’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, analysts anticipate that Tecnoglass Inc. will post 3.53 EPS for the current year.

Tecnoglass Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.71%. Tecnoglass’s payout ratio is presently 16.22%.

Tecnoglass Company 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.