LPL Financial LLC Sells 23,353 Shares of Tecnoglass Inc. $TGLS

Key Points

• LPL Financial LLC has reduced its stock holdings in Tecnoglass Inc. by 43.4%, owning 30,470 shares valued at $2,180,000 as of the last quarter.
• Tecnoglass reported a quarterly EPS of $1.03, exceeding analyst expectations by $0.07, and experienced a 16.3% increase in quarterly revenue year-over-year.
• The company announced a quarterly dividend of $0.15, reflecting a 0.8% dividend yield and a payout ratio of 15.42%.

LPL Financial LLC decreased its holdings in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 43.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,470 shares of the company's stock after selling 23,353 shares during the period. LPL Financial LLC owned approximately 0.06% of Tecnoglass worth $2,180,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of TGLS. Capital World Investors acquired a new position in Tecnoglass during the fourth quarter worth $23,530,000. Invesco Ltd. raised its holdings in Tecnoglass by 486.8% during the fourth quarter. Invesco Ltd. now owns 147,070 shares of the company's stock worth $11,666,000 after buying an additional 122,006 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Tecnoglass during the fourth quarter worth $4,344,000. Silvercrest Asset Management Group LLC acquired a new position in Tecnoglass during the fourth quarter worth $4,239,000. Finally, Vest Financial LLC acquired a new position in Tecnoglass during the first quarter worth $3,561,000. Institutional investors and hedge funds own 37.35% of the company's stock.

Analyst Upgrades and Downgrades

Separately, B. Riley began coverage on shares of Tecnoglass in a report on Friday, May 16th. They set a "buy" rating and a $100.00 price objective on the stock. One 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $89.00.

Tecnoglass Stock Up 4.0%

Shares of TGLS stock traded up $2.8180 on Friday, hitting $72.8180. The stock had a trading volume of 536,481 shares, compared to its average volume of 367,232. The business has a 50 day moving average of $76.08 and a 200 day moving average of $75.39. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 22.76 and a beta of 1.85. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. Tecnoglass Inc. has a 12-month low of $58.24 and a 12-month high of $90.34.

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

Tecnoglass Dividend Announcement

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

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.