Teachers Retirement System of The State of Kentucky Sells 3,630 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Teachers Retirement System of The State of Kentucky lowered its holdings in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 17.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,894 shares of the company's stock after selling 3,630 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Tecnoglass were worth $1,209,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Summit Investment Advisors Inc. grew its stake in Tecnoglass by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,350 shares of the company's stock valued at $186,000 after acquiring an additional 149 shares during the period. Quadrant Capital Group LLC lifted its holdings in Tecnoglass by 18.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,079 shares of the company's stock worth $86,000 after acquiring an additional 170 shares during the period. Principal Financial Group Inc. lifted its holdings in Tecnoglass by 1.2% during the first quarter. Principal Financial Group Inc. now owns 26,982 shares of the company's stock worth $1,931,000 after acquiring an additional 331 shares during the period. JFS Wealth Advisors LLC lifted its holdings in Tecnoglass by 1,350.0% during the first quarter. JFS Wealth Advisors LLC now owns 435 shares of the company's stock worth $31,000 after acquiring an additional 405 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Tecnoglass by 13.2% in 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 period. Institutional investors and hedge funds own 37.35% of the company's stock.

Wall Street Analyst Weigh In

Separately, B. Riley started coverage on shares of Tecnoglass in a report on Friday, May 16th. They issued a "buy" rating and a $100.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $83.00.

Tecnoglass Price Performance

NASDAQ TGLS traded down $0.33 during trading on Monday, reaching $76.90. The company's stock had a trading volume of 85,700 shares, compared to its average volume of 352,256. The stock has a market capitalization of $3.61 billion, a PE ratio of 24.03 and a beta of 1.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. The firm has a fifty day moving average of $80.06 and a 200 day moving average of $75.88. Tecnoglass Inc. has a one year low of $46.47 and a one year high of $90.34.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.10. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. Tecnoglass's revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 earnings per share. Analysts expect that Tecnoglass Inc. will post 3.53 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Monday, June 30th. Tecnoglass's payout ratio is presently 16.22%.

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.