Quantbot Technologies LP Boosts Holdings in Tecnoglass Inc. $TGLS

Quantbot Technologies LP grew its stake in shares of Tecnoglass Inc. (NYSE:TGLS) by 809.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,974 shares of the company’s stock after purchasing an additional 14,218 shares during the period. Quantbot Technologies LP’s holdings in Tecnoglass were worth $1,069,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TGLS. First Horizon Corp purchased a new stake in Tecnoglass in the third quarter worth about $28,000. Federated Hermes Inc. grew its holdings in shares of Tecnoglass by 290.2% during the 3rd quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock worth $40,000 after acquiring an additional 444 shares during the period. Covestor Ltd grew its holdings in shares of Tecnoglass by 52.9% during the 3rd quarter. Covestor Ltd now owns 2,282 shares of the company’s stock worth $153,000 after acquiring an additional 790 shares during the period. State of Wyoming bought a new position in shares of Tecnoglass in the 3rd quarter worth approximately $178,000. Finally, Ameritas Investment Partners Inc. raised its position 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 acquiring an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Tecnoglass Price Performance

Shares of NYSE TGLS opened at $41.61 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.40 and a current ratio of 1.86. The company has a 50 day simple moving average of $50.45 and a two-hundred day simple moving average of $56.63. Tecnoglass Inc. has a fifty-two week low of $41.48 and a fifty-two week high of $90.34. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 0.51 and a beta of 1.72.

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

Tecnoglass Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were paid a $0.15 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.4%. Tecnoglass’s payout ratio is presently 17.54%.

Analyst Ratings Changes

A number of research firms have recently commented on TGLS. B. Riley Financial lowered their target price on Tecnoglass from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Tecnoglass in a report on Monday, December 22nd. DA Davidson lowered their price objective on Tecnoglass from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Finally, Zacks Research cut shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.50.

About Tecnoglass

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.