Neumeier Poma Investment Counsel LLC Lowers Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

Key Points

• Neumeier Poma Investment Counsel LLC reduced its holdings in Tecnoglass Inc. by 9.5%, owning 270,095 shares worth approximately $19.33 million, which is 2.1% of its investment portfolio.
• Tecnoglass reported $0.92 earnings per share (EPS) for the latest quarter, exceeding estimates and showing a 15.4% year-over-year revenue increase.
• The company recently announced a quarterly dividend of $0.15 per share, resulting in an annualized yield of 0.8% and a dividend payout ratio of 16.22%.

Neumeier Poma Investment Counsel LLC reduced its stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 9.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 270,095 shares of the company's stock after selling 28,455 shares during the period. Tecnoglass comprises approximately 2.1% of Neumeier Poma Investment Counsel LLC's investment portfolio, making the stock its 23rd largest position. Neumeier Poma Investment Counsel LLC owned 0.57% of Tecnoglass worth $19,325,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TGLS. JFS Wealth Advisors LLC raised its stake in shares of Tecnoglass by 1,350.0% during the 1st quarter. JFS Wealth Advisors LLC now owns 435 shares of the company's stock valued at $31,000 after purchasing an additional 405 shares during the period. New Age Alpha Advisors LLC bought a new position in Tecnoglass during the 1st quarter valued at approximately $38,000. Covestor Ltd raised its position in shares of Tecnoglass by 6,293.8% in the 4th quarter. Covestor Ltd now owns 1,023 shares of the company's stock worth $81,000 after acquiring an additional 1,007 shares in the last quarter. Quadrant Capital Group LLC increased its position in Tecnoglass by 18.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,079 shares of the company's stock valued at $86,000 after buying an additional 170 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its position in Tecnoglass by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,350 shares of the company's stock valued at $186,000 after buying an additional 149 shares in the last quarter. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, B. Riley started coverage on Tecnoglass in a research report on Friday, May 16th. They set a "buy" rating and a $100.00 price objective for the company. Three equities research 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 MarketBeat, Tecnoglass presently has an average rating of "Moderate Buy" and an average price target of $89.00.

Tecnoglass Price Performance

Tecnoglass stock traded up $1.99 during midday trading on Monday, reaching $76.34. 170,414 shares of the stock traded hands, compared to its average volume of 353,356. The stock's fifty day moving average is $78.28 and its 200-day moving average is $75.55. Tecnoglass Inc. has a 12 month low of $54.45 and a 12 month high of $90.34. The stock has a market cap of $3.59 billion, a P/E ratio of 23.83 and a beta of 1.85. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.03 earnings per share for the quarter, topping 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%. During the same period in the prior year, the business earned $0.86 EPS. The business's revenue for the quarter was up 16.3% on a year-over-year basis. As a group, equities research analysts anticipate that Tecnoglass Inc. will post 3.53 EPS for the current year.

Tecnoglass Dividend Announcement

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

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.