Tecnoglass Inc. $TGLS Shares Bought by American Century Companies Inc.

American Century Companies Inc. grew its position in Tecnoglass Inc. (NYSE:TGLS) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,022,101 shares of the company’s stock after buying an additional 89,175 shares during the quarter. American Century Companies Inc.’s holdings in Tecnoglass were worth $68,389,000 at the end of the most recent quarter.

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

Tecnoglass Trading Down 0.8%

Shares of Tecnoglass stock opened at $45.66 on Thursday. Tecnoglass Inc. has a fifty-two week low of $43.09 and a fifty-two week high of $90.34. The business’s fifty day moving average is $50.80 and its two-hundred day moving average is $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 firm has a market cap 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 (NYSE:TGLS) last released its earnings results on Thursday, February 26th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.21). The business had revenue of $245.30 million during the quarter. Tecnoglass had a net margin of 16.22% and a return on equity of 23.05%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 EPS.

Tecnoglass Dividend Announcement

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

Analysts Set New Price Targets

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

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.