Quantbot Technologies LP Takes Position in Tecnoglass Inc. $TGLS

Key Points

• Quantbot Technologies LP invested approximately $2.68 million in Tecnoglass Inc., acquiring 37,451 shares, which represents about 0.08% of the company's stock.
• Tecnoglass reported a 16.3% increase in quarterly revenue year-over-year and earnings per share of $1.03, exceeding analysts' expectations of $0.96.
• The company recently announced a $0.15 quarterly dividend, translating to a 0.9% dividend yield and a payout ratio of 15.42%.

Quantbot Technologies LP acquired a new position in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 37,451 shares of the company's stock, valued at approximately $2,680,000. Quantbot Technologies LP owned 0.08% of Tecnoglass as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of TGLS. Wells Fargo & Company MN lifted its stake in shares of Tecnoglass by 57.7% in the 4th quarter. Wells Fargo & Company MN now owns 13,876 shares of the company's stock valued at $1,101,000 after purchasing an additional 5,079 shares during the period. Invesco Ltd. raised its stake in Tecnoglass by 486.8% during the fourth quarter. Invesco Ltd. now owns 147,070 shares of the company's stock valued at $11,666,000 after buying an additional 122,006 shares during the last quarter. Legal & General Group Plc raised its stake in Tecnoglass by 13.2% during the fourth quarter. Legal & General Group Plc now owns 4,180 shares of the company's stock valued at $332,000 after buying an additional 487 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Tecnoglass during the fourth quarter valued at $4,344,000. Finally, Summit Investment Advisors Inc. raised its stake in Tecnoglass by 6.8% during the fourth 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 during the last quarter. Hedge funds and other institutional investors own 37.35% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley assumed coverage on Tecnoglass in a research note on Friday, May 16th. They set a "buy" rating and a $100.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.00.

Tecnoglass Stock Up 4.0%

Shares of TGLS stock traded up $2.8180 during mid-day trading on Friday, hitting $72.8180. The company's stock had a trading volume of 536,481 shares, compared to its average volume of 367,232. Tecnoglass Inc. has a 52-week low of $58.24 and a 52-week high of $90.34. The business has a 50-day moving average price of $76.08 and a 200 day moving average price of $75.38. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 22.76 and a beta of 1.85.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted 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 previous year, the company earned $0.86 earnings per share. The firm's revenue for the quarter was up 16.3% compared to the same quarter last year. Tecnoglass has set its FY 2025 guidance at EPS. Research analysts predict that Tecnoglass Inc. will post 3.53 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. Tecnoglass's 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.