Vest Financial LLC Grows Stake in Tecnoglass Inc. $TGLS

Vest Financial LLC grew its stake in shares of Tecnoglass Inc. (NYSE:TGLS) by 18.6% in the third quarter, Holdings Channel reports. The fund owned 67,609 shares of the company’s stock after acquiring an additional 10,587 shares during the quarter. Vest Financial LLC’s holdings in Tecnoglass were worth $4,524,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada grew its holdings in Tecnoglass by 8.3% during the first quarter. Royal Bank of Canada now owns 3,121 shares of the company’s stock valued at $224,000 after purchasing an additional 238 shares during the period. AQR Capital Management LLC lifted its position in shares of Tecnoglass by 25.8% during the 1st quarter. AQR Capital Management LLC now owns 3,505 shares of the company’s stock valued at $251,000 after buying an additional 719 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Tecnoglass by 21.4% during the 1st quarter. Intech Investment Management LLC now owns 17,918 shares of the company’s stock worth $1,282,000 after acquiring an additional 3,161 shares during the period. Strs Ohio purchased a new stake in Tecnoglass in the 1st quarter worth about $279,000. Finally, Farther Finance Advisors LLC increased its holdings in Tecnoglass by 314.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 796 shares of the company’s stock worth $62,000 after acquiring an additional 604 shares during the last quarter. Institutional investors own 37.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TGLS. Weiss Ratings reiterated a “hold (c)” rating on shares of Tecnoglass in a research report on Monday, December 22nd. DA Davidson dropped their price target 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, Zacks Research raised shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

Tecnoglass Trading Up 1.3%

Shares of Tecnoglass stock opened at $52.58 on Thursday. The stock has a 50-day moving average price of $50.58. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.40 and a current ratio of 1.98. Tecnoglass Inc. has a 12-month low of $44.26 and a 12-month high of $90.34. The stock has a market capitalization of $2.45 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 0.57 and a beta of 1.71.

Tecnoglass (NYSE:TGLS) last posted its earnings results on Thursday, November 6th. The company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.11). Tecnoglass had a return on equity of 26.64% and a net margin of 18.46%.During the same quarter in the prior year, the business posted $1.08 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis.

Tecnoglass Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, December 31st. Tecnoglass’s dividend payout ratio (DPR) is 15.58%.

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.