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 cut its stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 17.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.

A number of other large investors have also bought and sold shares of the business. Cooke & Bieler LP grew its position in Tecnoglass by 1.6% during the 1st quarter. Cooke & Bieler LP now owns 797,882 shares of the company's stock worth $57,088,000 after acquiring an additional 12,642 shares during the last quarter. Kingsview Wealth Management LLC acquired a new stake in shares of Tecnoglass in the 1st quarter valued at about $3,134,000. Verdence Capital Advisors LLC raised its stake in shares of Tecnoglass by 49.0% in the 1st quarter. Verdence Capital Advisors LLC now owns 7,028 shares of the company's stock valued at $503,000 after purchasing an additional 2,311 shares during the period. SkyOak Wealth LLC acquired a new stake in shares of Tecnoglass in the first quarter valued at about $244,000. Finally, Linden Thomas Advisory Services LLC increased its position in shares of Tecnoglass by 12.0% in the first quarter. Linden Thomas Advisory Services LLC now owns 16,346 shares of the company's stock valued at $1,170,000 after acquiring an additional 1,749 shares during the last quarter. 37.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, B. Riley assumed coverage on Tecnoglass in a report on Friday, May 16th. They set a "buy" rating and a $100.00 price target for the company. Four 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's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $83.00.

Tecnoglass Stock Up 0.4%

NASDAQ:TGLS traded up $0.33 on Friday, hitting $77.27. The stock had a trading volume of 189,529 shares, compared to its average volume of 354,290. 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 $3.63 billion, a P/E ratio of 24.15 and a beta of 1.78. Tecnoglass Inc. has a 1 year low of $46.47 and a 1 year high of $90.34. The firm's fifty day simple moving average is $80.23 and its two-hundred day simple moving average is $75.84.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.10. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The business's revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter last year, the company posted $0.66 earnings per share. Analysts predict that Tecnoglass Inc. will post 3.53 earnings per share for the current year.

Tecnoglass Announces Dividend

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

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.