Principal Financial Group Inc. Sells 5,557 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Principal Financial Group Inc. lowered its position in Tecnoglass Inc. (NASDAQ:TGLS) by 17.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,651 shares of the company’s stock after selling 5,557 shares during the period. Principal Financial Group Inc. owned about 0.06% of Tecnoglass worth $2,114,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TGLS. Tidal Investments LLC bought a new stake in Tecnoglass during the third quarter valued at about $585,000. Barclays PLC lifted its position in shares of Tecnoglass by 32.2% during the 3rd quarter. Barclays PLC now owns 35,376 shares of the company’s stock valued at $2,429,000 after buying an additional 8,613 shares in the last quarter. GSA Capital Partners LLP grew its stake in shares of Tecnoglass by 262.4% during the 3rd quarter. GSA Capital Partners LLP now owns 20,089 shares of the company’s stock valued at $1,379,000 after acquiring an additional 14,545 shares during the period. Geode Capital Management LLC increased its holdings in Tecnoglass by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 500,265 shares of the company’s stock worth $34,355,000 after acquiring an additional 22,700 shares in the last quarter. Finally, Lisanti Capital Growth LLC bought a new stake in Tecnoglass during the 3rd quarter worth approximately $1,892,000. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Price Performance

Shares of NASDAQ:TGLS opened at $68.95 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. The firm has a fifty day moving average price of $77.08 and a 200 day moving average price of $73.56. Tecnoglass Inc. has a fifty-two week low of $40.94 and a fifty-two week high of $86.99. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 21.55 and a beta of 1.94.

Tecnoglass Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.15 per share. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.87%. Tecnoglass’s dividend payout ratio is currently 17.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Tecnoglass in a research report on Saturday, December 14th. They issued a “hold” rating for the company. Robert W. Baird upped their target price on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, DA Davidson raised their price target on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $77.40.

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.