American Century Companies Inc. Lowers Stock Position in Tecnoglass Inc. (NASDAQ:TGLS)

American Century Companies Inc. trimmed its stake in Tecnoglass Inc. (NASDAQ:TGLS) by 28.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,420,007 shares of the company’s stock after selling 571,667 shares during the period. American Century Companies Inc. owned about 3.02% of Tecnoglass worth $71,256,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. PFG Investments LLC purchased a new stake in Tecnoglass in the second quarter valued at approximately $220,000. X Square Capital LLC raised its holdings in shares of Tecnoglass by 5.7% in the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after buying an additional 237 shares during the period. Rhumbline Advisers acquired a new position in Tecnoglass during the 2nd quarter worth about $1,468,000. Rothschild Investment LLC purchased a new position in Tecnoglass during the 2nd quarter valued at about $909,000. Finally, Crossmark Global Holdings Inc. grew its position in Tecnoglass by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock valued at $355,000 after acquiring an additional 220 shares in the last quarter. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TGLS shares. DA Davidson increased their price target on shares of Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Robert W. Baird raised their price target on shares of Tecnoglass from $60.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Sidoti raised Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Wednesday, June 26th. Finally, Stifel Nicolaus lifted their target price on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, four have assigned 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 $60.83.

Tecnoglass Trading Up 3.8 %

Shares of NASDAQ:TGLS opened at $66.83 on Friday. The company has a market cap of $3.14 billion, a PE ratio of 19.26 and a beta of 1.86. The company’s 50 day moving average is $56.53 and its two-hundred day moving average is $52.86. Tecnoglass Inc. has a 52 week low of $28.21 and a 52 week high of $68.00. The company has a current ratio of 2.43, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The company had revenue of $219.65 million for the quarter, compared to analysts’ expectations of $219.29 million. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. Tecnoglass’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm earned $1.12 earnings per share. Equities analysts predict that Tecnoglass Inc. will post 3.42 earnings per share for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Monday, September 30th. Tecnoglass’s dividend payout ratio (DPR) is 12.68%.

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.