Tecnoglass Inc. (NASDAQ:TGLS) Shares Sold by Sei Investments Co.

Sei Investments Co. decreased its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 26.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 157,850 shares of the company’s stock after selling 57,169 shares during the period. Sei Investments Co. owned 0.34% of Tecnoglass worth $7,921,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Amalgamated Bank purchased a new stake in Tecnoglass during the 2nd quarter worth about $39,000. EntryPoint Capital LLC purchased a new stake in shares of Tecnoglass during the first quarter worth about $227,000. X Square Capital LLC lifted its stake in shares of Tecnoglass by 5.7% during the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after buying an additional 237 shares during the period. PFG Investments LLC purchased a new position in shares of Tecnoglass during the second quarter valued at approximately $220,000. Finally, Tidal Investments LLC acquired a new stake in Tecnoglass during the first quarter worth approximately $245,000. 37.35% of the stock is owned by institutional investors and hedge funds.

Tecnoglass Price Performance

TGLS opened at $68.94 on Monday. The company has a 50 day moving average of $59.45 and a two-hundred day moving average of $54.55. Tecnoglass Inc. has a 52-week low of $28.21 and a 52-week high of $69.79. The company has a quick ratio of 1.80, a current ratio of 2.43 and a debt-to-equity ratio of 0.24. The company has a market cap of $3.24 billion, a P/E ratio of 19.87 and a beta of 1.86.

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

Tecnoglass Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Monday, September 30th. Tecnoglass’s dividend payout ratio (DPR) is 12.68%.

Analyst Ratings Changes

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

About Tecnoglass

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.