Victory Capital Management Inc. Sells 17,177 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Victory Capital Management Inc. lessened its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 6.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 257,379 shares of the company's stock after selling 17,177 shares during the quarter. Victory Capital Management Inc. owned approximately 0.55% of Tecnoglass worth $18,415,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. JFS Wealth Advisors LLC boosted its stake in shares of Tecnoglass by 1,350.0% during the first quarter. JFS Wealth Advisors LLC now owns 435 shares of the company's stock valued at $31,000 after purchasing an additional 405 shares during the period. Signaturefd LLC boosted its stake in shares of Tecnoglass by 32.6% during the fourth quarter. Signaturefd LLC now owns 898 shares of the company's stock valued at $71,000 after purchasing an additional 221 shares during the period. Covestor Ltd lifted its stake in Tecnoglass by 6,293.8% in the fourth quarter. Covestor Ltd now owns 1,023 shares of the company's stock worth $81,000 after acquiring an additional 1,007 shares during the period. Quadrant Capital Group LLC lifted its stake in Tecnoglass by 18.7% in 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. Finally, Summit Investment Advisors Inc. lifted 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 worth $186,000 after acquiring an additional 149 shares during the period. Hedge funds and other institutional investors own 37.35% of the company's stock.

Tecnoglass Trading Up 0.4%

TGLS stock traded up $0.33 on Friday, reaching $77.27. The company's stock had a trading volume of 189,529 shares, compared to its average volume of 354,290. The business has a fifty day simple moving average of $80.06 and a two-hundred day simple moving average of $75.87. 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 firm has a market cap of $3.63 billion, a PE ratio of 24.15 and a beta of 1.78. Tecnoglass Inc. has a 12-month low of $46.47 and a 12-month 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%. The business's quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. As a group, research analysts forecast that Tecnoglass Inc. will post 3.53 EPS for the current year.

Tecnoglass Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.78%. Tecnoglass's dividend payout ratio (DPR) is 16.22%.

Analyst Upgrades and Downgrades

Separately, B. Riley started coverage on Tecnoglass in a research note on Friday, May 16th. They issued a "buy" rating and a $100.00 price target for the company. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

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.