Alliancebernstein L.P. Buys 94,335 Shares of Tecnoglass Inc. $TGLS

Key Points

• Alliancebernstein L.P. increased its stake in Tecnoglass Inc. by 42.3%, acquiring an additional 94,335 shares during the 1st quarter, bringing its total ownership to 317,303 shares valued at approximately $22.7 million.
• Institutional investors now own 37.35% of Tecnoglass shares, with other hedge funds also increasing stakes, including a 963.3% increase by PDT Partners LLC.
• B. Riley initiated coverage on Tecnoglass with a buy rating and a target price of $100.00, while the stock received an average rating of "Moderate Buy" from analysts.

Alliancebernstein L.P. raised its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 42.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,303 shares of the company's stock after buying an additional 94,335 shares during the period. Alliancebernstein L.P. owned 0.68% of Tecnoglass worth $22,703,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TGLS. JFS Wealth Advisors LLC increased its holdings in shares of Tecnoglass by 1,350.0% during the 1st quarter. JFS Wealth Advisors LLC now owns 435 shares of the company's stock valued at $31,000 after acquiring an additional 405 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Tecnoglass in the 1st quarter worth approximately $38,000. Entropy Technologies LP bought a new stake in Tecnoglass during the first quarter worth approximately $200,000. Royal Bank of Canada grew its holdings in Tecnoglass by 8.3% during the first quarter. Royal Bank of Canada now owns 3,121 shares of the company's stock valued at $224,000 after purchasing an additional 238 shares during the last quarter. Finally, SkyOak Wealth LLC bought a new position in shares of Tecnoglass in the first quarter valued at approximately $244,000. Institutional investors own 37.35% of the company's stock.

Tecnoglass Stock Performance

Shares of Tecnoglass stock traded down $1.42 on Tuesday, reaching $70.07. The stock had a trading volume of 573,581 shares, compared to its average volume of 363,588. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. The business's 50-day moving average price is $74.58 and its two-hundred day moving average price is $75.15. The stock has a market cap of $3.29 billion, a P/E ratio of 21.90 and a beta of 1.87. Tecnoglass Inc. has a fifty-two week low of $60.25 and a fifty-two week high of $90.34.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.07. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The firm's revenue for the quarter was up 16.3% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS. Tecnoglass has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Tecnoglass Inc. will post 3.53 EPS for the current year.

Tecnoglass Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Tecnoglass's payout ratio is currently 15.42%.

Tecnoglass Company 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.