Clearbridge Investments LLC Has $14.09 Million Stock Position in Tecnoglass Inc. (NASDAQ:TGLS)

Clearbridge Investments LLC cut its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 49.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 177,611 shares of the company’s stock after selling 173,726 shares during the period. Clearbridge Investments LLC owned 0.38% of Tecnoglass worth $14,088,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TGLS. Wellington Management Group LLP lifted its holdings in Tecnoglass by 29.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock worth $134,994,000 after purchasing an additional 447,647 shares during the last quarter. one8zero8 LLC bought a new position in Tecnoglass during the 4th quarter worth $8,021,000. State Street Corp lifted its holdings in shares of Tecnoglass by 29.1% during the third quarter. State Street Corp now owns 416,964 shares of the company’s stock worth $28,674,000 after buying an additional 93,968 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Tecnoglass in the fourth quarter valued at about $4,344,000. Finally, Verition Fund Management LLC grew its stake in shares of Tecnoglass by 262.5% in the third quarter. Verition Fund Management LLC now owns 48,894 shares of the company’s stock valued at $3,357,000 after acquiring an additional 35,406 shares in the last quarter. Institutional investors own 37.35% of the company’s stock.

Analyst Upgrades and Downgrades

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

Tecnoglass Stock Up 3.6 %

TGLS stock opened at $74.49 on Thursday. Tecnoglass Inc. has a 52 week low of $40.94 and a 52 week high of $86.99. The business has a 50-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. The company has a market cap of $3.50 billion, a PE ratio of 23.28 and a beta of 1.94.

Tecnoglass Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.81%. 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.