Cynosure Group LLC Cuts Stake in Tecnoglass Inc. (NASDAQ:TGLS)

Cynosure Group LLC cut its stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 33.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,129 shares of the company's stock after selling 3,599 shares during the period. Cynosure Group LLC's holdings in Tecnoglass were worth $565,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of TGLS. Wellington Management Group LLP boosted its position in Tecnoglass by 29.5% in the third quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company's stock valued at $134,994,000 after buying an additional 447,647 shares during the last quarter. one8zero8 LLC purchased a new stake in shares of Tecnoglass in the 4th quarter valued at $8,021,000. State Street Corp increased its stake in shares of 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 acquiring an additional 93,968 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Tecnoglass during the fourth quarter worth $4,344,000. Finally, Verition Fund Management LLC lifted its position in Tecnoglass by 262.5% during the third quarter. Verition Fund Management LLC now owns 48,894 shares of the company's stock valued at $3,357,000 after purchasing an additional 35,406 shares during the period. Hedge funds and other institutional investors own 37.35% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Tecnoglass in a research note 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $77.40.

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Tecnoglass Price Performance

Shares of NASDAQ:TGLS traded up $1.84 during trading on Tuesday, reaching $66.38. 36,575 shares of the company's stock traded hands, compared to its average volume of 367,754. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. Tecnoglass Inc. has a fifty-two week low of $40.94 and a fifty-two week high of $86.99. The company has a 50-day simple moving average of $72.04 and a 200-day simple moving average of $74.81. The firm has a market cap of $3.12 billion, a PE ratio of 20.77 and a beta of 1.66.

Tecnoglass Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Monday, March 31st. Tecnoglass's dividend payout ratio (DPR) is presently 17.49%.

Tecnoglass Profile

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.