Rhumbline Advisers Trims Stock Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

Rhumbline Advisers cut its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,474 shares of the company’s stock after selling 564 shares during the quarter. Rhumbline Advisers owned approximately 0.06% of Tecnoglass worth $2,259,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Legato Capital Management LLC raised its stake in Tecnoglass by 109.2% in the fourth quarter. Legato Capital Management LLC now owns 9,790 shares of the company’s stock worth $777,000 after buying an additional 5,110 shares in the last quarter. Polaris Capital Management LLC increased its stake in Tecnoglass by 2.5% during the 4th quarter. Polaris Capital Management LLC now owns 860,964 shares of the company’s stock valued at $68,292,000 after purchasing an additional 20,800 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new position in shares of Tecnoglass in the 4th quarter valued at $222,000. R Squared Ltd purchased a new position in shares of Tecnoglass in the fourth quarter worth about $70,000. Finally, Nilsine Partners LLC acquired a new stake in Tecnoglass during the 4th quarter valued at approximately $1,322,000. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Tecnoglass Price Performance

Shares of TGLS stock opened at $71.16 on Tuesday. The firm’s 50-day moving average is $77.51 and its two-hundred day moving average is $73.41. Tecnoglass Inc. has a 12 month low of $40.94 and a 12 month high of $86.99. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. The company has a market capitalization of $3.34 billion, a PE ratio of 22.24 and a beta of 1.88.

Tecnoglass Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.15 per share. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, December 31st. This represents a $0.60 annualized dividend and a yield of 0.84%. Tecnoglass’s dividend payout ratio (DPR) is 17.49%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TGLS shares. Robert W. Baird boosted their price objective on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, November 8th. StockNews.com began coverage on shares of Tecnoglass in a research report on Saturday, December 14th. They issued a “hold” rating on the stock. Finally, DA Davidson boosted their price target on Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a research 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 stock. According to data from MarketBeat, Tecnoglass presently has an average rating of “Hold” and a consensus price target 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.