Tecnoglass Inc. (NASDAQ:TGLS) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its position in Tecnoglass Inc. (NASDAQ:TGLS) by 69.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,611 shares of the company’s stock after selling 17,550 shares during the period. Envestnet Asset Management Inc.’s holdings in Tecnoglass were worth $545,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TGLS. Vanguard Group Inc. raised its stake in shares of Tecnoglass by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 517,435 shares of the company’s stock worth $41,043,000 after buying an additional 31,493 shares in the last quarter. Trexquant Investment LP raised its stake in shares of Tecnoglass by 15.6% in the 4th quarter. Trexquant Investment LP now owns 14,264 shares of the company’s stock worth $1,131,000 after buying an additional 1,921 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Tecnoglass in the 4th quarter worth $322,000. Wells Fargo & Company MN raised its position in shares of Tecnoglass by 57.7% during the fourth quarter. Wells Fargo & Company MN now owns 13,876 shares of the company’s stock worth $1,101,000 after purchasing an additional 5,079 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Tecnoglass by 18.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,079 shares of the company’s stock valued at $86,000 after purchasing an additional 170 shares during the last quarter. Institutional investors own 37.35% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley began coverage on Tecnoglass in a report on Friday, May 16th. They set a “buy” rating and a $100.00 target price for the company. Four investment 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 data from MarketBeat.com, Tecnoglass has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Tecnoglass Trading Up 2.3%

Shares of NASDAQ TGLS opened at $78.23 on Wednesday. Tecnoglass Inc. has a 12 month low of $47.54 and a 12 month high of $90.34. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 24.45 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. The business has a fifty day simple moving average of $78.88 and a 200-day simple moving average of $75.81.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings results 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 return on equity of 27.71% and a net margin of 17.82%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 EPS. Sell-side analysts predict that Tecnoglass Inc. will post 3.53 EPS for the current year.

Tecnoglass Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, June 30th. Tecnoglass’s payout ratio 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.