Allspring Global Investments Holdings LLC Reduces Position in Tecnoglass Inc. (NASDAQ:TGLS)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Tecnoglass Inc. (NASDAQ:TGLSGet Rating) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 426,242 shares of the company’s stock after selling 9,393 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Tecnoglass were worth $8,946,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TGLS. JPMorgan Chase & Co. boosted its position in shares of Tecnoglass by 39.5% during the first quarter. JPMorgan Chase & Co. now owns 25,671 shares of the company’s stock valued at $648,000 after buying an additional 7,269 shares during the period. BlackRock Inc. boosted its holdings in shares of Tecnoglass by 107.4% in the first quarter. BlackRock Inc. now owns 994,989 shares of the company’s stock valued at $25,114,000 after purchasing an additional 515,151 shares during the period. Sei Investments Co. boosted its holdings in shares of Tecnoglass by 45.1% in the first quarter. Sei Investments Co. now owns 265,750 shares of the company’s stock valued at $6,708,000 after purchasing an additional 82,567 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Tecnoglass by 39.7% in the first quarter. Lazard Asset Management LLC now owns 28,909 shares of the company’s stock valued at $729,000 after purchasing an additional 8,212 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Tecnoglass by 11.8% in the first quarter. Renaissance Technologies LLC now owns 122,500 shares of the company’s stock valued at $3,092,000 after purchasing an additional 12,900 shares during the period. Hedge funds and other institutional investors own 23.64% of the company’s stock.

Tecnoglass Stock Performance

Tecnoglass stock opened at $32.22 on Friday. The business has a fifty day moving average of $29.39 and a two-hundred day moving average of $24.26. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.40 and a current ratio of 2.04. Tecnoglass Inc. has a twelve month low of $16.05 and a twelve month high of $32.90.

Tecnoglass (NASDAQ:TGLSGet Rating) last posted its earnings results on Thursday, November 3rd. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.30. The company had revenue of $201.78 million during the quarter, compared to analyst estimates of $168.42 million. Tecnoglass had a return on equity of 46.41% and a net margin of 18.92%. On average, research analysts predict that Tecnoglass Inc. will post 3.17 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, December 30th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Thursday, December 29th. Tecnoglass’s payout ratio is presently 11.86%.

Insider Transactions at Tecnoglass

In other news, Director Julio A. Torres sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $25.46, for a total transaction of $636,500.00. Following the transaction, the director now directly owns 30,520 shares of the company’s stock, valued at $777,039.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Julio A. Torres sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $25.46, for a total transaction of $636,500.00. Following the transaction, the director now directly owns 30,520 shares of the company’s stock, valued at $777,039.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director A Lorne Weil sold 35,000 shares of the company’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $30.24, for a total value of $1,058,400.00. Following the transaction, the director now directly owns 88,173 shares in the company, valued at $2,666,351.52. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TGLS. Robert W. Baird boosted their price target on Tecnoglass from $36.00 to $40.00 in a report on Friday, November 4th. B. Riley boosted their price target on Tecnoglass from $38.00 to $40.00 in a report on Friday, December 2nd. Finally, StockNews.com upgraded Tecnoglass from a “buy” rating to a “strong-buy” rating in a report on Friday.

Tecnoglass Profile

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Tecnoglass Inc, through its subsidiaries, designs, produces, markets, and installs architectural systems for the commercial and residential construction industries in Colombia, the United States, Panama, and internationally. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.

Further Reading

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Institutional Ownership by Quarter for Tecnoglass (NASDAQ:TGLS)

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