Tecnoglass Inc. (NASDAQ:TGLS) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its position in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 23.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,911 shares of the company's stock after selling 11,545 shares during the quarter. Ameriprise Financial Inc. owned 0.08% of Tecnoglass worth $3,007,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Summit Investment Advisors Inc. increased its holdings in shares of Tecnoglass by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,350 shares of the company's stock valued at $186,000 after purchasing an additional 149 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Tecnoglass by 18.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,079 shares of the company's stock valued at $86,000 after acquiring an additional 170 shares in the last quarter. Signaturefd LLC lifted its position in shares of Tecnoglass by 32.6% in the fourth quarter. Signaturefd LLC now owns 898 shares of the company's stock valued at $71,000 after acquiring an additional 221 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its position in shares of Tecnoglass by 3.0% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 9,882 shares of the company's stock valued at $784,000 after acquiring an additional 286 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Tecnoglass by 13.2% during the fourth quarter. Legal & General Group Plc now owns 4,180 shares of the company's stock worth $332,000 after buying an additional 487 shares in the last quarter. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, B. Riley started coverage on Tecnoglass in a research note on Friday, May 16th. They set a "buy" rating and a $100.00 target price for the company. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

Tecnoglass Stock Down 0.2%

NASDAQ:TGLS traded down $0.19 during midday trading on Friday, reaching $85.83. The company had a trading volume of 238,850 shares, compared to its average volume of 370,877. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 26.82 and a beta of 1.85. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The stock's fifty day simple moving average is $75.10 and its 200-day simple moving average is $76.19. Tecnoglass Inc. has a 12-month low of $40.94 and a 12-month high of $89.36.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.10. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. During the same quarter in the prior year, the business posted $0.66 earnings per share. Tecnoglass's revenue for the quarter was up 15.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Tecnoglass Inc. will post 3.53 earnings per share for the current fiscal year.

Tecnoglass Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Monday, March 31st. Tecnoglass's dividend payout ratio (DPR) is presently 16.22%.

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.