Citigroup Inc. Grows Position in Tecnoglass Inc. $TGLS

Citigroup Inc. grew its position in Tecnoglass Inc. (NYSE:TGLS) by 445.3% during the third quarter, HoldingsChannel.com reports. The fund owned 526,061 shares of the company’s stock after acquiring an additional 429,590 shares during the quarter. Citigroup Inc.’s holdings in Tecnoglass were worth $35,199,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TGLS. First Horizon Corp purchased a new position in shares of Tecnoglass in the third quarter valued at $28,000. Federated Hermes Inc. grew its stake in shares of Tecnoglass by 290.2% in the 3rd quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock worth $40,000 after buying an additional 444 shares in the last quarter. Covestor Ltd grew its stake in shares of Tecnoglass by 52.9% in the 3rd quarter. Covestor Ltd now owns 2,282 shares of the company’s stock worth $153,000 after buying an additional 790 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Tecnoglass by 5.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,485 shares of the company’s stock worth $192,000 after buying an additional 135 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Tecnoglass during the 3rd quarter valued at about $178,000. 37.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Tecnoglass in a research report on Monday, December 22nd. DA Davidson lowered their price objective on Tecnoglass from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Finally, Zacks Research raised Tecnoglass from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Tecnoglass currently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

Tecnoglass Stock Up 1.1%

Shares of NYSE TGLS 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 has a 50-day simple moving average of $51.39 and a two-hundred day simple moving average of $58.16. The company 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. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.40.

Tecnoglass Dividend Announcement

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