Raymond James Financial Inc. Has $3.11 Million Stock Holdings in Tecnoglass Inc. $TGLS

Raymond James Financial Inc. trimmed its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 20.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,439 shares of the company's stock after selling 11,322 shares during the quarter. Raymond James Financial Inc. owned about 0.09% of Tecnoglass worth $3,108,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Silvercrest Asset Management Group LLC acquired a new stake in shares of Tecnoglass during the 4th quarter worth approximately $4,239,000. GAMMA Investing LLC grew its holdings in Tecnoglass by 5,771.4% in the 1st quarter. GAMMA Investing LLC now owns 17,673 shares of the company's stock worth $1,265,000 after buying an additional 17,372 shares in the last quarter. Vanguard Group Inc. grew its holdings in Tecnoglass by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 540,314 shares of the company's stock worth $38,659,000 after buying an additional 22,879 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Tecnoglass by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 26,982 shares of the company's stock worth $1,931,000 after buying an additional 331 shares in the last quarter. Finally, Millennium Management LLC bought a new position in Tecnoglass in the 4th quarter worth approximately $1,825,000. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Tecnoglass Price Performance

Shares of NASDAQ TGLS traded up $0.91 during trading on Wednesday, hitting $71.41. The company had a trading volume of 289,487 shares, compared to its average volume of 363,946. The company has a market cap of $3.36 billion, a P/E ratio of 22.31 and a beta of 1.87. Tecnoglass Inc. has a 52 week low of $58.42 and a 52 week high of $90.34. The business's 50-day moving average is $75.12 and its 200 day moving average is $75.15. 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 posted its quarterly 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 quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 EPS. Tecnoglass has set its FY 2025 guidance at EPS. Equities research analysts predict that Tecnoglass Inc. will post 3.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, B. Riley initiated coverage on Tecnoglass in a report on Friday, May 16th. They issued a "buy" rating and a $100.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Tecnoglass currently has a consensus rating of "Moderate Buy" and an average price target of $89.00.

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.