Tecnoglass Inc. $TGLS Stake Increased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Tecnoglass Inc. by 49.1%, now owning 65,212 shares valued at approximately $4.67 million.
• Tecnoglass reported earnings of $1.03 per share for the last quarter, exceeding estimates by $0.07, with a year-over-year revenue growth of 16.3%.
• The company declared a $0.15 quarterly dividend, set to be paid on October 31st, representing an annual yield of 0.8%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 49.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,212 shares of the company's stock after purchasing an additional 21,483 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.14% of Tecnoglass worth $4,666,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in shares of Tecnoglass by 15.6% during the first quarter. Wellington Management Group LLP now owns 1,883,864 shares of the company's stock worth $134,790,000 after purchasing an additional 254,686 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Tecnoglass by 12.1% during the 1st quarter. American Century Companies Inc. now owns 816,166 shares of the company's stock valued at $58,397,000 after buying an additional 87,791 shares during the period. Cooke & Bieler LP raised its holdings in shares of Tecnoglass by 1.6% during the 1st quarter. Cooke & Bieler LP now owns 797,882 shares of the company's stock valued at $57,088,000 after buying an additional 12,642 shares during the period. Vanguard Group Inc. lifted its position in Tecnoglass by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 540,314 shares of the company's stock worth $38,659,000 after acquiring an additional 22,879 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Tecnoglass by 42.3% in the 1st quarter. Alliancebernstein L.P. now owns 317,303 shares of the company's stock worth $22,703,000 after acquiring an additional 94,335 shares during the period. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Tecnoglass Stock Down 4.1%

Shares of TGLS traded down $3.00 during mid-day trading on Friday, reaching $70.59. 219,113 shares of the stock traded hands, compared to its average volume of 362,575. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 22.06 and a beta of 1.87. The stock has a fifty day simple moving average of $74.79 and a 200 day simple moving average of $75.21. Tecnoglass Inc. has a 12-month low of $60.25 and a 12-month high of $90.34. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last released its quarterly earnings results 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 net margin of 17.82% and a return on equity of 27.71%. During the same quarter last year, the business posted $0.86 earnings per share. The business'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. Sell-side analysts expect that Tecnoglass Inc. will post 3.53 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. 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.