Raymond James Financial Services Advisors Inc. Cuts Stock Position in Tecnoglass Inc. (NASDAQ:TGLS)

Raymond James Financial Services Advisors Inc. reduced its holdings in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 71.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,972 shares of the company's stock after selling 56,165 shares during the quarter. Raymond James Financial Services Advisors Inc.'s holdings in Tecnoglass were worth $1,004,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TGLS. American Century Companies Inc. raised its holdings in shares of Tecnoglass by 84.6% in the third quarter. American Century Companies Inc. now owns 2,105,685 shares of the company's stock valued at $69,403,000 after purchasing an additional 965,316 shares during the last quarter. BlackRock Inc. grew its stake in shares of Tecnoglass by 107.4% in the first quarter. BlackRock Inc. now owns 994,989 shares of the company's stock valued at $25,114,000 after buying an additional 515,151 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of Tecnoglass in the third quarter valued at $9,837,000. Neumeier Poma Investment Counsel LLC grew its stake in shares of Tecnoglass by 169.7% in the third quarter. Neumeier Poma Investment Counsel LLC now owns 420,310 shares of the company's stock valued at $13,853,000 after buying an additional 264,475 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Tecnoglass by 113.3% in the second quarter. Millennium Management LLC now owns 423,348 shares of the company's stock valued at $7,430,000 after buying an additional 224,837 shares in the last quarter. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Tecnoglass Price Performance

TGLS stock traded up $0.98 during midday trading on Monday, reaching $58.65. The company had a trading volume of 680,952 shares, compared to its average volume of 349,116. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 15.23 and a beta of 1.80. The stock has a 50 day moving average price of $48.77 and a 200-day moving average price of $42.18. Tecnoglass Inc. has a 1-year low of $28.21 and a 1-year high of $59.76. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.27 and a quick ratio of 1.60.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last issued its earnings results on Thursday, February 29th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.75 by $0.05. The firm had revenue of $194.60 million during the quarter, compared to the consensus estimate of $199.93 million. Tecnoglass had a return on equity of 38.92% and a net margin of 21.95%. Equities research analysts expect that Tecnoglass Inc. will post 3.7 earnings per share for the current year.

Tecnoglass Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from Tecnoglass's previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 0.75%. Tecnoglass's dividend payout ratio is presently 11.43%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. B. Riley raised their target price on shares of Tecnoglass from $51.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, April 9th. DA Davidson reaffirmed a "buy" rating and set a $50.00 price objective on shares of Tecnoglass in a research report on Monday, March 4th. Finally, Stifel Nicolaus cut shares of Tecnoglass from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $48.00 to $45.00 in a research report on Wednesday, February 14th. Two 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.80.

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.