Clearbridge Investments LLC Sells 173,726 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Clearbridge Investments LLC lessened its holdings in Tecnoglass Inc. (NASDAQ:TGLS) by 49.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 177,611 shares of the company’s stock after selling 173,726 shares during the period. Clearbridge Investments LLC’s holdings in Tecnoglass were worth $14,088,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. USA Financial Formulas bought a new stake in shares of Tecnoglass during the 4th quarter valued at approximately $26,000. R Squared Ltd bought a new stake in shares of Tecnoglass during the fourth quarter worth $70,000. Signaturefd LLC increased its holdings in shares of Tecnoglass by 32.6% during the fourth quarter. Signaturefd LLC now owns 898 shares of the company’s stock worth $71,000 after buying an additional 221 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Tecnoglass in the 4th quarter valued at $108,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Tecnoglass during the 4th quarter valued at $203,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Tecnoglass in a report on Saturday, December 14th. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $77.40.

Tecnoglass Stock Up 3.6 %

Shares of NASDAQ:TGLS opened at $74.49 on Thursday. The firm has a market cap of $3.50 billion, a P/E ratio of 23.28 and a beta of 1.94. Tecnoglass Inc. has a 12-month low of $40.94 and a 12-month high of $86.99. The business has a fifty day simple moving average of $73.08 and a 200 day simple moving average of $74.79. 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 Announces Dividend

The business 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 dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.81%. Tecnoglass’s dividend payout ratio (DPR) is 17.49%.

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.