Envestnet Asset Management Inc. Reduces Stake in Tecnoglass Inc. (NASDAQ:TGLS)

Envestnet Asset Management Inc. lowered its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 28.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,161 shares of the company's stock after selling 9,794 shares during the quarter. Envestnet Asset Management Inc. owned 0.05% of Tecnoglass worth $1,996,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TGLS. Wells Fargo & Company MN raised its position in Tecnoglass by 57.7% during the fourth quarter. Wells Fargo & Company MN now owns 13,876 shares of the company's stock valued at $1,101,000 after purchasing an additional 5,079 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in shares of Tecnoglass during the 4th quarter valued at about $322,000. Trexquant Investment LP lifted its position in Tecnoglass by 15.6% in the 4th quarter. Trexquant Investment LP now owns 14,264 shares of the company's stock worth $1,131,000 after buying an additional 1,921 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Tecnoglass in the fourth quarter worth approximately $203,000. Finally, Vanguard Group Inc. grew its position in Tecnoglass by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 517,435 shares of the company's stock valued at $41,043,000 after acquiring an additional 31,493 shares during the last quarter. 37.35% of the stock is owned by institutional investors.

Tecnoglass Price Performance

Shares of TGLS stock traded up $3.34 during trading hours on Friday, hitting $75.13. 27,393 shares of the company's stock were exchanged, compared to its average volume of 361,887. Tecnoglass Inc. has a 12-month low of $40.94 and a 12-month high of $86.99. The company has a market capitalization of $3.53 billion, a PE ratio of 23.50 and a beta of 1.66. The business's 50 day simple moving average is $69.65 and its 200-day simple moving average is $74.62. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20.

Tecnoglass Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a dividend of $0.15 per share. The ex-dividend date was Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 0.80%. Tecnoglass's payout ratio is 17.49%.

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.