William Blair Investment Management LLC Sells 63,544 Shares of Tecnoglass Inc. $TGLS

Key Points

• William Blair Investment Management LLC reduced its stake in Tecnoglass Inc. by 6.5%, selling 63,544 shares, and now holds 917,392 shares valued at approximately $70.97 million.
• Tecnoglass reported earnings of $1.03 per share for the last quarter, surpassing analysts' expectations, with a revenue increase of 16.3% year-over-year.
• The company declared a quarterly dividend of $0.15, which will be paid to shareholders on October 31st, contributing to an annualized yield of 1.0%.

William Blair Investment Management LLC lowered its stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 6.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 917,392 shares of the company's stock after selling 63,544 shares during the quarter. William Blair Investment Management LLC owned 1.95% of Tecnoglass worth $70,969,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vest Financial LLC raised its holdings in shares of Tecnoglass by 14.6% during the second quarter. Vest Financial LLC now owns 57,022 shares of the company's stock valued at $4,411,000 after acquiring an additional 7,257 shares in the last quarter. Valley National Advisers Inc. bought a new position in shares of Tecnoglass during the second quarter valued at approximately $120,000. Farther Finance Advisors LLC raised its holdings in shares of Tecnoglass by 314.6% during the second quarter. Farther Finance Advisors LLC now owns 796 shares of the company's stock valued at $62,000 after acquiring an additional 604 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Tecnoglass by 7.8% during the first quarter. Rhumbline Advisers now owns 30,707 shares of the company's stock valued at $2,197,000 after acquiring an additional 2,233 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Tecnoglass during the first quarter valued at approximately $279,000. Institutional investors own 37.35% of the company's stock.

Tecnoglass Price Performance

Shares of TGLS stock opened at $62.57 on Friday. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 19.55 and a beta of 1.83. The business's fifty day moving average is $69.89 and its 200 day moving average is $74.51. Tecnoglass Inc. has a twelve month low of $60.25 and a twelve 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 issued its quarterly earnings results on Thursday, August 7th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.07. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%.The business's revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. Tecnoglass has set its FY 2025 guidance at EPS. Research analysts expect that Tecnoglass Inc. will post 3.53 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Tecnoglass's dividend payout ratio is presently 15.42%.

Tecnoglass Company 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.

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