Tecnoglass Inc. $TGLS Shares Bought by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in Tecnoglass Inc. by 15.6%, owning approximately 4.01% of the shares valued at $134.79 million following the acquisition of 254,686 additional shares.
• Tecnoglass reported a 16.3% year-over-year revenue increase with an earnings per share (EPS) of $1.03, surpassing analysts' expectations of $0.96 for the quarter.
• The company declared a quarterly dividend of $0.15, resulting in an annualized yield of 0.9% and a dividend payout ratio of 15.42%.

Wellington Management Group LLP boosted its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 15.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,883,864 shares of the company's stock after buying an additional 254,686 shares during the quarter. Wellington Management Group LLP owned 4.01% of Tecnoglass worth $134,790,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in shares of Tecnoglass by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 993,514 shares of the company's stock valued at $78,811,000 after purchasing an additional 14,369 shares during the period. American Century Companies Inc. lifted its stake in Tecnoglass by 12.1% in the first quarter. American Century Companies Inc. now owns 816,166 shares of the company's stock worth $58,397,000 after acquiring an additional 87,791 shares during the last quarter. Cooke & Bieler LP lifted its stake in Tecnoglass by 1.6% in the first 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. Vanguard Group Inc. lifted its stake in Tecnoglass by 4.4% in the first 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 during the last quarter. Finally, Ensign Peak Advisors Inc lifted its stake in Tecnoglass by 12.9% in the fourth quarter. Ensign Peak Advisors Inc now owns 243,856 shares of the company's stock worth $19,343,000 after acquiring an additional 27,810 shares during the last quarter. Hedge funds and other institutional investors own 37.35% of the company's stock.

Tecnoglass Stock Performance

Shares of Tecnoglass stock traded up $2.8180 during trading on Friday, reaching $72.8180. The company's stock had a trading volume of 536,481 shares, compared to its average volume of 367,232. The company has a 50-day moving average price of $76.08 and a two-hundred day moving average price of $75.38. The firm has a market cap of $3.42 billion, a PE ratio of 22.76 and a beta of 1.85. Tecnoglass Inc. has a fifty-two week low of $58.24 and a fifty-two week high of $90.34. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $1.03 EPS 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%. The firm's quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. Tecnoglass has set its FY 2025 guidance at EPS. On average, analysts forecast that Tecnoglass Inc. will post 3.53 EPS for the current year.

Tecnoglass Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. Tecnoglass's dividend payout ratio (DPR) is currently 15.42%.

Analyst Upgrades and Downgrades

Separately, B. Riley initiated coverage on shares of Tecnoglass in a report on Friday, May 16th. They set a "buy" rating and a $100.00 price objective on the stock. One 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.