Tecnoglass Inc. $TGLS Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in Tecnoglass Inc. by 20.5%, now owning approximately 0.25% of the company's stock valued at $8.37 million.
• Analysts are optimistic about Tecnoglass, with B. Riley issuing a "buy" rating and a target price of $100.00 for the stock.
• Tecnoglass announced a quarterly dividend of $0.15 per share, representing an annualized yield of 0.8%.

Invesco Ltd. lowered its position in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 20.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,943 shares of the company's stock after selling 30,127 shares during the quarter. Invesco Ltd. owned approximately 0.25% of Tecnoglass worth $8,367,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in Tecnoglass by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 993,514 shares of the company's stock worth $78,811,000 after purchasing an additional 14,369 shares in the last quarter. Cooke & Bieler LP grew its stake in Tecnoglass by 1.6% in the first quarter. Cooke & Bieler LP now owns 797,882 shares of the company's stock worth $57,088,000 after purchasing an additional 12,642 shares in the last quarter. Vanguard Group Inc. grew its stake in Tecnoglass by 4.4% in the first quarter. Vanguard Group Inc. now owns 540,314 shares of the company's stock worth $38,659,000 after purchasing an additional 22,879 shares in the last quarter. Ensign Peak Advisors Inc grew its stake in Tecnoglass by 12.9% in the fourth quarter. Ensign Peak Advisors Inc now owns 243,856 shares of the company's stock worth $19,343,000 after purchasing an additional 27,810 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Tecnoglass by 8.1% in the fourth quarter. Northern Trust Corp now owns 201,275 shares of the company's stock worth $15,965,000 after purchasing an additional 15,162 shares in the last quarter. Institutional investors own 37.35% of the company's stock.

Tecnoglass Stock Up 0.0%

NASDAQ TGLS traded up $0.03 during midday trading on Friday, hitting $72.60. 303,138 shares of the company traded hands, compared to its average volume of 369,320. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. The company has a market cap of $3.41 billion, a PE ratio of 22.69 and a beta of 1.87. The company's 50-day simple moving average is $75.76 and its 200-day simple moving average is $75.25. Tecnoglass Inc. has a 52 week low of $58.24 and a 52 week high of $90.34.

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

Tecnoglass Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, June 30th. Tecnoglass's dividend payout ratio (DPR) is 15.42%.

Analyst Ratings Changes

Separately, B. Riley started coverage on Tecnoglass in a research note on Friday, May 16th. They issued a "buy" rating and a $100.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $89.00.

Tecnoglass 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.