Prospector Partners LLC Lowers Stock Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

Prospector Partners LLC cut its position in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 15.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,735 shares of the company's stock after selling 5,770 shares during the quarter. Prospector Partners LLC owned about 0.07% of Tecnoglass worth $2,597,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. USA Financial Formulas bought a new stake in Tecnoglass in the 4th quarter worth about $26,000. R Squared Ltd purchased a new position in shares of Tecnoglass in the fourth quarter valued at about $70,000. Signaturefd LLC lifted its holdings in Tecnoglass by 32.6% in the 4th quarter. Signaturefd LLC now owns 898 shares of the company's stock worth $71,000 after purchasing an additional 221 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Tecnoglass by 18.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,079 shares of the company's stock worth $86,000 after acquiring an additional 170 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Tecnoglass during the fourth quarter valued at approximately $108,000. 37.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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Tecnoglass Trading Up 0.8 %

Shares of TGLS traded up $0.55 during mid-day trading on Friday, reaching $69.56. 170,196 shares of the company's stock traded hands, compared to its average volume of 366,814. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. The stock's 50-day moving average is $71.02 and its two-hundred day moving average is $74.69. Tecnoglass Inc. has a 12 month low of $40.94 and a 12 month high of $86.99. The stock has a market cap of $3.27 billion, a P/E ratio of 21.60 and a beta of 1.66.

Tecnoglass Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Tecnoglass's dividend payout ratio (DPR) is presently 17.49%.

Tecnoglass Company 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.