Wellington Management Group LLP Cuts Position in Tecnoglass Inc. $TGLS

Wellington Management Group LLP cut its stake in Tecnoglass Inc. (NYSE:TGLS) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 391,385 shares of the company’s stock after selling 12,984 shares during the period. Wellington Management Group LLP owned approximately 0.88% of Tecnoglass worth $18,321,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in Tecnoglass by 15.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,243,496 shares of the company’s stock worth $55,395,000 after acquiring an additional 161,955 shares during the last quarter. First Trust Advisors LP raised its holdings in Tecnoglass by 17.8% in the 4th quarter. First Trust Advisors LP now owns 1,209,419 shares of the company’s stock valued at $60,858,000 after acquiring an additional 182,449 shares during the last quarter. Geode Capital Management LLC lifted its position in Tecnoglass by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 640,586 shares of the company’s stock worth $32,242,000 after buying an additional 35,317 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Tecnoglass by 11.4% during the 3rd quarter. Vanguard Group Inc. now owns 625,529 shares of the company’s stock worth $41,854,000 after acquiring an additional 63,993 shares during the period. Finally, State Street Corp raised its stake in Tecnoglass by 9.6% during the fourth quarter. State Street Corp now owns 519,254 shares of the company’s stock worth $26,207,000 after purchasing an additional 45,544 shares during the period. Institutional investors and hedge funds own 37.35% of the company’s stock.

Tecnoglass Stock Performance

Shares of NYSE TGLS opened at $40.81 on Monday. Tecnoglass Inc. has a 52-week low of $37.35 and a 52-week high of $73.95. The stock has a market capitalization of $1.81 billion and a P/E ratio of 14.37. The company has a quick ratio of 1.17, a current ratio of 1.86 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average price is $43.35 and its two-hundred day moving average price is $43.71.

Tecnoglass (NYSE:TGLS) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $295.29 million during the quarter. Tecnoglass had a return on equity of 17.84% and a net margin of 12.35%.Tecnoglass’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 earnings per share. As a group, sell-side analysts forecast that Tecnoglass Inc. will post 2.58 earnings per share for the current year.

Tecnoglass Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.5%. Tecnoglass’s payout ratio is currently 21.13%.

Analyst Upgrades and Downgrades

TGLS has been the topic of a number of research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Tecnoglass in a report on Monday, August 17th. Zacks Research upgraded shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tecnoglass currently has an average rating of “Moderate Buy” and a consensus target price of $63.33.

Tecnoglass Company Profile

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.