Clearbridge Investments LLC Sells 8,526 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Clearbridge Investments LLC lowered its holdings in Tecnoglass Inc. (NASDAQ:TGLS) by 2.2% during the 2nd quarter, Holdings Channel reports. The firm owned 381,350 shares of the company’s stock after selling 8,526 shares during the period. Clearbridge Investments LLC’s holdings in Tecnoglass were worth $19,136,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TGLS. William Blair Investment Management LLC raised its stake in shares of Tecnoglass by 232.8% during the 1st quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock worth $84,017,000 after purchasing an additional 1,129,603 shares during the period. Owls Nest Partners IA LLC increased its holdings in Tecnoglass by 200.1% during the fourth quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock worth $26,410,000 after buying an additional 385,265 shares during the last quarter. Ensign Peak Advisors Inc raised its position in Tecnoglass by 219.7% in the second quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after acquiring an additional 149,933 shares during the period. Dimensional Fund Advisors LP boosted its stake in Tecnoglass by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock valued at $44,385,000 after acquiring an additional 96,602 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Tecnoglass during the 2nd quarter valued at approximately $3,929,000. Institutional investors own 37.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TGLS. Stifel Nicolaus lifted their price target on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. DA Davidson upped their price target on Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Sidoti raised Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Wednesday, June 26th. Robert W. Baird upped their price objective on shares of Tecnoglass from $68.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Finally, B. Riley downgraded shares of Tecnoglass from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $60.00 to $69.00 in a research note on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.67.

Tecnoglass Trading Up 0.1 %

Shares of Tecnoglass stock opened at $69.66 on Friday. The company’s 50-day moving average price is $61.08 and its 200-day moving average price is $55.25. The company has a current ratio of 2.43, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24. Tecnoglass Inc. has a 12-month low of $28.21 and a 12-month high of $71.01. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 20.07 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last posted its earnings results on Thursday, August 8th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.03. The business had revenue of $219.65 million for the quarter, compared to analysts’ expectations of $219.29 million. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 EPS. On average, equities analysts expect that Tecnoglass Inc. will post 3.42 earnings per share for the current fiscal year.

Tecnoglass Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.11 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.63%. Tecnoglass’s dividend payout ratio is currently 12.68%.

Tecnoglass Profile

Tecnoglass Inc manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally. The company provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.