ProShare Advisors LLC Has $502,000 Stake in Tecnoglass Inc. (NASDAQ:TGLS)

ProShare Advisors LLC grew its position in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 49.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,326 shares of the company’s stock after acquiring an additional 2,081 shares during the quarter. ProShare Advisors LLC’s holdings in Tecnoglass were worth $502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Tecnoglass by 49.2% during the 4th quarter. FMR LLC now owns 5,412,322 shares of the company’s stock worth $429,305,000 after buying an additional 1,785,602 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Tecnoglass by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 993,514 shares of the company’s stock valued at $78,811,000 after buying an additional 14,369 shares during the period. Polaris Capital Management LLC grew its position in shares of 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 acquiring an additional 20,800 shares during the period. Vanguard Group Inc. grew its holdings in Tecnoglass by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 517,435 shares of the company’s stock valued at $41,043,000 after purchasing an additional 31,493 shares during the period. Finally, Capital World Investors purchased a new stake in Tecnoglass in the fourth quarter worth $23,530,000. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Tecnoglass Stock Performance

Shares of Tecnoglass stock opened at $84.19 on Tuesday. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $3.96 billion, a P/E ratio of 26.31 and a beta of 1.85. The business has a fifty day simple moving average of $74.03 and a two-hundred day simple moving average of $75.87. Tecnoglass Inc. has a 12 month low of $40.94 and a 12 month high of $89.36.

Tecnoglass (NASDAQ:TGLS) last issued its earnings results on Thursday, May 8th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.10. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share. On average, equities analysts forecast that Tecnoglass Inc. will post 3.53 earnings per share for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Monday, March 31st. Tecnoglass’s dividend payout ratio (DPR) is 16.22%.

Wall Street Analyst Weigh In

Separately, B. Riley assumed coverage on Tecnoglass in a research note on Friday, May 16th. They issued a “buy” rating and a $100.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

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.