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

Cynosure Group LLC decreased its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 33.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. 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 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in TGLS. Charles Schwab Investment Management Inc. raised its position in shares of Tecnoglass by 8.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 183,400 shares of the company’s stock valued at $12,592,000 after buying an additional 13,803 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Tecnoglass by 74.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,097 shares of the company’s stock worth $968,000 after acquiring an additional 6,005 shares during the period. MetLife Investment Management LLC raised its holdings in Tecnoglass by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 13,101 shares of the company’s stock valued at $900,000 after acquiring an additional 7,382 shares during the last quarter. Walleye Capital LLC lifted its stake in shares of Tecnoglass by 19.4% during the 3rd quarter. Walleye Capital LLC now owns 7,075 shares of the company’s stock worth $486,000 after purchasing an additional 1,149 shares during the period. Finally, Verition Fund Management LLC boosted its holdings in shares of Tecnoglass by 262.5% during the third quarter. Verition Fund Management LLC now owns 48,894 shares of the company’s stock worth $3,357,000 after purchasing an additional 35,406 shares during the last quarter. 37.35% of the stock is owned by institutional investors and hedge funds.

Tecnoglass Stock Performance

NASDAQ:TGLS opened at $74.49 on Thursday. Tecnoglass Inc. has a fifty-two week low of $40.94 and a fifty-two week high of $86.99. The firm’s 50 day moving average is $73.08 and its two-hundred day moving average is $74.79. The company has a market cap of $3.50 billion, a P/E ratio of 23.28 and a beta of 1.94. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Monday, March 31st. Tecnoglass’s dividend payout ratio (DPR) is currently 17.49%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Tecnoglass in a research note 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.40.

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.