American Century Companies Inc. Raises Stake in Tecnoglass Inc. $TGLS

American Century Companies Inc. raised its holdings in Tecnoglass Inc. (NYSE:TGLS) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,022,101 shares of the company’s stock after purchasing an additional 89,175 shares during the quarter. American Century Companies Inc. owned about 2.18% of Tecnoglass worth $68,389,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in TGLS. Citigroup Inc. increased its position in Tecnoglass by 445.3% in the 3rd quarter. Citigroup Inc. now owns 526,061 shares of the company’s stock valued at $35,199,000 after acquiring an additional 429,590 shares during the period. Jane Street Group LLC grew its stake in shares of Tecnoglass by 2,640.4% in the 2nd 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 last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Tecnoglass in the 2nd quarter valued at approximately $8,515,000. Qube Research & Technologies Ltd increased its holdings in shares of Tecnoglass by 735.4% in the second quarter. Qube Research & Technologies Ltd now owns 118,038 shares of the company’s stock valued at $9,131,000 after purchasing an additional 103,909 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Tecnoglass by 11.4% during the third quarter. Vanguard Group Inc. now owns 625,529 shares of the company’s stock worth $41,854,000 after purchasing an additional 63,993 shares during the last quarter. Institutional investors and hedge funds own 37.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TGLS shares. Zacks Research lowered shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a research report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Tecnoglass in a research note on Monday, December 22nd. Finally, DA Davidson lowered their target price on shares of Tecnoglass from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Tecnoglass Stock Performance

Shares of TGLS opened at $45.66 on Thursday. The company has a 50-day simple moving average of $50.80 and a 200-day simple moving average of $56.94. The company has a quick ratio of 1.40, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $2.13 billion, a PE ratio of 13.35, a P/E/G ratio of 0.54 and a beta of 1.72. Tecnoglass Inc. has a 52-week low of $43.09 and a 52-week high of $90.34.

Tecnoglass (NYSE:TGLS) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.21). Tecnoglass had a return on equity of 23.05% and a net margin of 16.22%.The company had revenue of $245.30 million for the quarter. During the same quarter in the prior year, the company posted $1.05 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year.

Tecnoglass Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.3%. Tecnoglass’s payout ratio is 17.54%.

Tecnoglass Company 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.