Bank of America Corp DE Sells 9,317 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Bank of America Corp DE reduced its stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 146,027 shares of the company's stock after selling 9,317 shares during the period. Bank of America Corp DE owned 0.31% of Tecnoglass worth $11,583,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd bought a new position in Tecnoglass in the fourth quarter worth approximately $70,000. Signaturefd LLC lifted its holdings in shares of Tecnoglass by 32.6% in the 4th quarter. Signaturefd LLC now owns 898 shares of the company's stock worth $71,000 after purchasing an additional 221 shares in the last quarter. Covestor Ltd grew its position in Tecnoglass by 6,293.8% in the 4th quarter. Covestor Ltd now owns 1,023 shares of the company's stock valued at $81,000 after purchasing an additional 1,007 shares during the period. Quadrant Capital Group LLC grew its position in Tecnoglass by 18.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,079 shares of the company's stock valued at $86,000 after purchasing an additional 170 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in Tecnoglass during the 4th quarter valued at $108,000. Institutional investors and hedge funds own 37.35% of the company's stock.

Analysts Set New Price Targets

Separately, B. Riley started coverage on shares of Tecnoglass in a research report on Friday, May 16th. They issued a "buy" rating and a $100.00 price target on the stock. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $83.00.

Tecnoglass Stock Performance

Shares of TGLS stock traded up $3.64 during trading on Tuesday, hitting $87.77. The company's stock had a trading volume of 223,875 shares, compared to its average volume of 371,264. 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 company has a market cap of $4.12 billion, a PE ratio of 27.41 and a beta of 1.85. The business has a fifty day moving average of $74.03 and a 200-day moving average of $75.87. Tecnoglass Inc. has a 52 week low of $40.94 and a 52 week high of $89.36.

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

Tecnoglass Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 0.68%. Tecnoglass's dividend payout ratio (DPR) is presently 16.22%.

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.