Cambridge Investment Research Advisors Inc. Sells 148 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Cambridge Investment Research Advisors Inc. trimmed its holdings in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,462 shares of the company’s stock after selling 148 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Tecnoglass were worth $963,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TGLS. FMR LLC increased its stake in Tecnoglass by 49.2% in the fourth quarter. FMR LLC now owns 5,412,322 shares of the company’s stock valued at $429,305,000 after purchasing an additional 1,785,602 shares in the last quarter. Capital World Investors bought a new stake in Tecnoglass in the fourth quarter valued at approximately $23,530,000. Marshall Wace LLP bought a new stake in Tecnoglass in the fourth quarter valued at approximately $19,638,000. Invesco Ltd. increased its stake in Tecnoglass by 486.8% in the fourth quarter. Invesco Ltd. now owns 147,070 shares of the company’s stock valued at $11,666,000 after purchasing an additional 122,006 shares in the last quarter. Finally, one8zero8 LLC bought a new stake in Tecnoglass in the fourth quarter valued at approximately $8,021,000. 37.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, B. Riley assumed coverage on shares of Tecnoglass in a report on Friday, May 16th. They issued a “buy” rating and a $100.00 price target for the company. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Tecnoglass Stock Performance

NASDAQ:TGLS opened at $77.98 on Friday. The company has a fifty day moving average of $80.65 and a 200-day moving average of $76.22. The firm has a market capitalization of $3.66 billion, a P/E ratio of 24.37 and a beta of 1.85. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. Tecnoglass Inc. has a twelve month low of $46.47 and a twelve month high of $90.34.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.10. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period last year, the company posted $0.66 earnings per share. As a group, sell-side analysts anticipate that Tecnoglass Inc. will post 3.53 EPS for the current year.

Tecnoglass Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.77%. Tecnoglass’s dividend payout ratio (DPR) is presently 16.22%.

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.