Balyasny Asset Management L.P. Reduces Stock Position in Tecnoglass Inc. (NASDAQ:TGLS)

Balyasny Asset Management L.P. trimmed its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 43.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,780 shares of the company's stock after selling 17,264 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Tecnoglass were worth $1,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in TGLS. FMR LLC increased its position in shares of Tecnoglass by 49.2% during the fourth quarter. FMR LLC now owns 5,412,322 shares of the company's stock worth $429,305,000 after buying an additional 1,785,602 shares during the period. Capital World Investors acquired a new position in shares of Tecnoglass in the 4th quarter valued at about $23,530,000. Marshall Wace LLP bought a new stake in shares of Tecnoglass during the 4th quarter valued at about $19,638,000. Invesco Ltd. grew its stake in Tecnoglass by 486.8% during the fourth quarter. Invesco Ltd. now owns 147,070 shares of the company's stock worth $11,666,000 after purchasing an additional 122,006 shares during the period. Finally, one8zero8 LLC bought a new position in shares of Tecnoglass during the 4th quarter worth approximately $8,021,000. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Stock Performance

Shares of TGLS stock traded up $1.74 during trading hours on Friday, hitting $86.14. 407,919 shares of the company were exchanged, compared to its average volume of 368,239. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 26.92 and a beta of 1.85. The firm has a fifty day simple moving average of $71.68 and a 200 day simple moving average of $75.07. Tecnoglass Inc. has a 52-week low of $40.94 and a 52-week high of $89.36.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last released its earnings results 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%. During the same period in the prior year, the company earned $0.66 earnings per share. The firm's revenue for the quarter was up 15.4% on a year-over-year basis. Research analysts predict that Tecnoglass Inc. will post 3.53 earnings per share for the current fiscal year.

Tecnoglass Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Monday, March 31st. Tecnoglass's dividend payout ratio is currently 16.22%.

Analyst Upgrades and Downgrades

Separately, B. Riley initiated coverage on shares of Tecnoglass in a research report on Friday. They set a "buy" rating and a $100.00 target price for the company. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Tecnoglass has an average rating of "Hold" and an average price target of $83.00.

Tecnoglass 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.