William Blair Investment Management LLC Increases Holdings in Tecnoglass Inc. $TGLS

William Blair Investment Management LLC raised its holdings in shares of Tecnoglass Inc. (NYSE:TGLS) by 2.2% in the third quarter, HoldingsChannel reports. The firm owned 937,463 shares of the company’s stock after buying an additional 20,071 shares during the quarter. William Blair Investment Management LLC’s holdings in Tecnoglass were worth $62,726,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. First Horizon Corp bought a new stake in shares of Tecnoglass in the 3rd quarter worth approximately $28,000. Federated Hermes Inc. lifted its stake in Tecnoglass by 290.2% in the third quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock worth $40,000 after acquiring an additional 444 shares during the period. Covestor Ltd boosted its holdings in Tecnoglass by 52.9% in the third quarter. Covestor Ltd now owns 2,282 shares of the company’s stock valued at $153,000 after acquiring an additional 790 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Tecnoglass by 5.7% in the second quarter. Ameritas Investment Partners Inc. now owns 2,485 shares of the company’s stock valued at $192,000 after acquiring an additional 135 shares in the last quarter. Finally, State of Wyoming purchased a new position in Tecnoglass during the 3rd quarter valued at $178,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Analysts Set New Price Targets

TGLS has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tecnoglass in a research report on Monday, December 22nd. Zacks Research raised shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Finally, DA Davidson lowered their price objective on shares of Tecnoglass from $95.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.00.

Tecnoglass Price Performance

TGLS stock opened at $45.72 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.40 and a current ratio of 1.98. The firm has a 50 day moving average price of $51.15 and a 200-day moving average price of $57.45. Tecnoglass Inc. has a 52-week low of $43.21 and a 52-week high of $90.34. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 0.50 and a beta of 1.71.

Tecnoglass (NYSE:TGLS) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.21). The company had revenue of $245.30 million for the quarter. Tecnoglass had a net margin of 16.22% and a return on equity of 22.93%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 earnings per share.

Tecnoglass Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, December 31st. Tecnoglass’s payout ratio is currently 17.54%.

Tecnoglass Profile

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.