Clearbridge Investments LLC Sells 173,726 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Clearbridge Investments LLC decreased its holdings in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 49.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 177,611 shares of the company's stock after selling 173,726 shares during the quarter. Clearbridge Investments LLC owned about 0.38% of Tecnoglass worth $14,088,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in Tecnoglass by 29.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company's stock worth $134,994,000 after purchasing an additional 447,647 shares in the last quarter. Polaris Capital Management LLC lifted its holdings in Tecnoglass by 2.5% in the fourth quarter. Polaris Capital Management LLC now owns 860,964 shares of the company's stock worth $68,292,000 after buying an additional 20,800 shares during the period. Vanguard Group Inc. grew its holdings in shares of Tecnoglass by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 517,435 shares of the company's stock worth $41,043,000 after acquiring an additional 31,493 shares during the period. Geode Capital Management LLC lifted its stake in shares of Tecnoglass by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 500,265 shares of the company's stock valued at $34,355,000 after purchasing an additional 22,700 shares during the period. Finally, State Street Corp grew its stake in Tecnoglass by 29.1% in the third quarter. State Street Corp now owns 416,964 shares of the company's stock worth $28,674,000 after purchasing an additional 93,968 shares during the period. Hedge funds and other institutional investors own 37.35% of the company's stock.

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Tecnoglass Stock Down 0.5 %

Tecnoglass stock traded down $0.32 during mid-day trading on Monday, hitting $64.44. The company had a trading volume of 443,546 shares, compared to its average volume of 369,053. Tecnoglass Inc. has a 12 month low of $40.94 and a 12 month high of $86.99. The company has a market capitalization of $3.03 billion, a PE ratio of 20.14 and a beta of 1.66. The stock's 50 day moving average price is $72.04 and its two-hundred day moving average price is $74.81. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20.

Tecnoglass Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Monday, March 31st. Tecnoglass's dividend payout ratio (DPR) is 17.49%.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Tecnoglass in a research report on Saturday, December 14th. They set a "hold" rating for the company. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $77.40.

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.