Tecnoglass Inc. (NASDAQ:TGLS) Shares Bought by Owls Nest Partners IA LLC

Owls Nest Partners IA LLC raised its holdings in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 200.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 577,765 shares of the company's stock after buying an additional 385,265 shares during the quarter. Tecnoglass comprises 6.9% of Owls Nest Partners IA LLC's holdings, making the stock its 7th largest position. Owls Nest Partners IA LLC owned 1.21% of Tecnoglass worth $26,410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TGLS. SummerHaven Investment Management LLC increased its holdings in shares of Tecnoglass by 1.9% in the fourth quarter. SummerHaven Investment Management LLC now owns 13,169 shares of the company's stock valued at $602,000 after purchasing an additional 250 shares during the period. Moran Wealth Management LLC increased its holdings in shares of Tecnoglass by 5.6% in the fourth quarter. Moran Wealth Management LLC now owns 8,914 shares of the company's stock valued at $407,000 after purchasing an additional 472 shares during the period. Riverwater Partners LLC increased its holdings in shares of Tecnoglass by 1.1% in the fourth quarter. Riverwater Partners LLC now owns 52,541 shares of the company's stock valued at $2,410,000 after purchasing an additional 565 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Tecnoglass by 27.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,917 shares of the company's stock valued at $96,000 after purchasing an additional 632 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of Tecnoglass by 4.8% in the third quarter. Lazard Asset Management LLC now owns 30,382 shares of the company's stock valued at $1,001,000 after purchasing an additional 1,380 shares during the period. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Tecnoglass Price Performance

TGLS stock traded down $0.13 during mid-day trading on Friday, reaching $45.05. 279,022 shares of the company's stock were exchanged, compared to its average volume of 355,905. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 12.98 and a beta of 1.79. The stock's 50 day moving average is $53.52 and its 200 day moving average is $48.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.33 and a quick ratio of 1.72. Tecnoglass Inc. has a 12-month low of $28.21 and a 12-month high of $59.76.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). The business had revenue of $192.09 million for the quarter, compared to analysts' expectations of $191.04 million. Tecnoglass had a return on equity of 31.85% and a net margin of 19.97%. The business's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.08 EPS. On average, research analysts expect that Tecnoglass Inc. will post 3.37 EPS for the current year.

Tecnoglass Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a $0.11 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.98%. Tecnoglass's payout ratio is presently 12.68%.

Analyst Ratings Changes

TGLS has been the topic of a number of research reports. Sidoti lowered Tecnoglass from a "buy" rating to a "neutral" rating and increased their price objective for the company from $56.00 to $59.00 in a report on Wednesday, May 1st. DA Davidson reaffirmed a "buy" rating and set a $50.00 target price on shares of Tecnoglass in a report on Monday, March 4th. B. Riley reaffirmed a "buy" rating and set a $60.00 target price (down from $65.00) on shares of Tecnoglass in a report on Friday, May 10th. Finally, Robert W. Baird dropped their target price on Tecnoglass from $65.00 to $64.00 and set an "outperform" rating on the stock in a report on Tuesday, May 7th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Tecnoglass has a consensus rating of "Moderate Buy" and a consensus target price of $53.83.

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.