Citigroup Inc. Raises Position in Tecnoglass Inc. $TGLS

Citigroup Inc. grew its holdings in shares of Tecnoglass Inc. (NYSE:TGLS) by 445.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 526,061 shares of the company’s stock after acquiring an additional 429,590 shares during the period. Citigroup Inc. owned about 1.12% of Tecnoglass worth $35,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Jane Street Group LLC grew its holdings in Tecnoglass by 2,640.4% during the second quarter. Jane Street Group LLC now owns 326,113 shares of the company’s stock valued at $25,228,000 after purchasing an additional 314,213 shares during the period. American Century Companies Inc. lifted its position in shares of Tecnoglass by 14.3% during the 2nd quarter. American Century Companies Inc. now owns 932,926 shares of the company’s stock valued at $72,171,000 after buying an additional 116,760 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Tecnoglass during the 2nd quarter valued at approximately $8,515,000. Qube Research & Technologies Ltd increased its holdings in Tecnoglass by 735.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 118,038 shares of the company’s stock worth $9,131,000 after acquiring an additional 103,909 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Tecnoglass by 11.4% during the 3rd quarter. Vanguard Group Inc. now owns 625,529 shares of the company’s stock worth $41,854,000 after acquiring an additional 63,993 shares during the period. 37.35% of the stock is owned by institutional investors.

Tecnoglass Trading Up 1.1%

Tecnoglass stock opened at $49.98 on Wednesday. Tecnoglass Inc. has a 1 year low of $44.26 and a 1 year high of $90.34. The firm’s 50 day moving average price is $51.39 and its 200-day moving average price is $58.16. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.40. The stock has a market cap of $2.33 billion, a P/E ratio of 12.98, a PEG ratio of 0.54 and a beta of 1.71.

Tecnoglass Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Tecnoglass’s dividend payout ratio is 15.58%.

Analyst Ratings Changes

A number of equities analysts have weighed in on TGLS shares. Zacks Research upgraded shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. DA Davidson lowered their target price on shares of Tecnoglass from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tecnoglass in a report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.00.

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.