Tecnoglass Inc. $TGLS Shares Sold by Raymond James Financial Inc.

Raymond James Financial Inc. lessened its stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 20.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,439 shares of the company's stock after selling 11,322 shares during the period. Raymond James Financial Inc. owned about 0.09% of Tecnoglass worth $3,108,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Nations Financial Group Inc. IA ADV lifted its position in shares of Tecnoglass by 1.6% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 10,042 shares of the company's stock valued at $719,000 after buying an additional 160 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Tecnoglass by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 26,982 shares of the company's stock valued at $1,931,000 after buying an additional 331 shares in the last quarter. JFS Wealth Advisors LLC lifted its position 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 buying an additional 405 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Tecnoglass during the 1st quarter valued at approximately $38,000. Finally, State of Wyoming lifted its position in shares of Tecnoglass by 17.7% during the 4th quarter. State of Wyoming now owns 3,735 shares of the company's stock valued at $296,000 after buying an additional 561 shares in 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 began coverage on Tecnoglass in a research report on Friday, May 16th. They set a "buy" rating and a $100.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Tecnoglass presently has an average rating of "Moderate Buy" and a consensus target price of $89.00.

Tecnoglass Price Performance

TGLS stock traded down $3.00 during midday trading on Friday, reaching $70.59. The stock had a trading volume of 219,113 shares, compared to its average volume of 362,575. The company's fifty day simple moving average is $74.79 and its 200 day simple moving average is $75.17. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 22.06 and a beta of 1.87. Tecnoglass Inc. has a 52-week low of $60.25 and a 52-week high of $90.34.

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

Tecnoglass Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. Tecnoglass's dividend payout ratio (DPR) is 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.