Commonwealth Equity Services LLC Sells 14,750 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Commonwealth Equity Services LLC decreased its holdings in Tecnoglass Inc. (NASDAQ:TGLS) by 71.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,880 shares of the company’s stock after selling 14,750 shares during the period. Commonwealth Equity Services LLC’s holdings in Tecnoglass were worth $295,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Rothschild Investment LLC bought a new position in Tecnoglass during the second quarter valued at approximately $909,000. Crossmark Global Holdings Inc. boosted its stake in Tecnoglass by 3.2% during the second quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock valued at $355,000 after buying an additional 220 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Tecnoglass during the second quarter valued at approximately $3,929,000. SummerHaven Investment Management LLC raised its position in Tecnoglass by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 13,681 shares of the company’s stock valued at $687,000 after purchasing an additional 292 shares during the period. Finally, Linden Thomas Advisory Services LLC raised its position in Tecnoglass by 10.0% during the second quarter. Linden Thomas Advisory Services LLC now owns 10,150 shares of the company’s stock valued at $509,000 after purchasing an additional 920 shares during the period. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Stock Down 0.2 %

Shares of NASDAQ:TGLS opened at $66.76 on Wednesday. Tecnoglass Inc. has a 52-week low of $28.21 and a 52-week high of $69.79. The stock has a market cap of $3.14 billion, a P/E ratio of 19.24 and a beta of 1.86. The business’s 50 day moving average is $58.53 and its 200 day moving average is $54.07. The company has a quick ratio of 1.80, a current ratio of 2.43 and a debt-to-equity ratio of 0.24.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.03. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The company had revenue of $219.65 million for the quarter, compared to analysts’ expectations of $219.29 million. During the same quarter in the prior year, the firm earned $1.12 earnings per share. Tecnoglass’s revenue was down 2.5% compared to the same quarter last year. Sell-side analysts predict that Tecnoglass Inc. will post 3.42 EPS for the current year.

Tecnoglass Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.11 per share. The ex-dividend date is Monday, September 30th. This represents a $0.44 annualized dividend and a yield of 0.66%. Tecnoglass’s dividend payout ratio (DPR) is presently 12.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TGLS shares. B. Riley downgraded Tecnoglass from a “buy” rating to a “neutral” rating and upped their price objective for the company from $60.00 to $69.00 in a research report on Monday. Stifel Nicolaus upped their price objective on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, August 9th. DA Davidson upped their price objective on Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Sidoti upgraded 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, Robert W. Baird increased their price target on Tecnoglass from $68.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.67.

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.