Bank of America Corp DE Decreases Stock Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

Bank of America Corp DE reduced its holdings in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 6.0% in the fourth quarter, according to its most recent filing with the Securities & 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 approximately 0.31% of Tecnoglass worth $11,583,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in TGLS. Barclays PLC increased its stake in Tecnoglass by 32.2% during the third quarter. Barclays PLC now owns 35,376 shares of the company's stock worth $2,429,000 after acquiring an additional 8,613 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Tecnoglass by 6.3% in the third quarter. JPMorgan Chase & Co. now owns 19,237 shares of the company's stock worth $1,321,000 after buying an additional 1,146 shares during the last quarter. SG Americas Securities LLC boosted its stake in Tecnoglass by 48.5% during the fourth quarter. SG Americas Securities LLC now owns 10,554 shares of the company's stock worth $837,000 after buying an additional 3,445 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Tecnoglass in the fourth quarter valued at $275,000. Finally, Linden Thomas Advisory Services LLC raised its stake in shares of Tecnoglass by 22.1% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 14,597 shares of the company's stock valued at $1,158,000 after acquiring an additional 2,646 shares during the period. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Stock Down 1.5%

NASDAQ TGLS traded down $1.30 on Wednesday, reaching $86.47. 30,187 shares of the stock traded hands, compared to its average volume of 370,637. Tecnoglass Inc. has a 12 month low of $40.94 and a 12 month high of $90.64. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 27.02 and a beta of 1.85. The company has a fifty day moving average price of $74.33 and a 200-day moving average price of $75.96. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.92 earnings per share for the quarter, beating 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%. During the same period in the prior year, the company earned $0.66 earnings per share. Tecnoglass's quarterly revenue was up 15.4% on a year-over-year basis. As a group, research analysts forecast that Tecnoglass Inc. will post 3.53 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The firm 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. This represents a $0.60 annualized dividend and a yield of 0.69%. The ex-dividend date was Monday, March 31st. Tecnoglass's payout ratio is 16.22%.

Analyst Ratings Changes

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

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.