Tecnoglass Inc. (NASDAQ:TGLS) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC trimmed its position in Tecnoglass Inc. (NASDAQ:TGLS) by 36.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,028,174 shares of the company’s stock after selling 593,029 shares during the period. William Blair Investment Management LLC’s holdings in Tecnoglass were worth $81,555,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new stake in Tecnoglass in the third quarter worth approximately $2,211,000. Tidal Investments LLC acquired a new stake in Tecnoglass in the third quarter worth approximately $585,000. Barclays PLC lifted its position in Tecnoglass by 32.2% in the third quarter. Barclays PLC now owns 35,376 shares of the company’s stock worth $2,429,000 after purchasing an additional 8,613 shares during the period. Geode Capital Management LLC lifted its position in Tecnoglass by 4.8% in the third quarter. Geode Capital Management LLC now owns 500,265 shares of the company’s stock worth $34,355,000 after purchasing an additional 22,700 shares during the period. Finally, Wellington Management Group LLP lifted its position in Tecnoglass by 29.5% in the third 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 period. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Tecnoglass Price Performance

NASDAQ TGLS opened at $70.69 on Tuesday. The stock has a market capitalization of $3.32 billion, a P/E ratio of 22.09 and a beta of 1.94. Tecnoglass Inc. has a 1 year low of $40.94 and a 1 year high of $86.99. The business’s fifty day moving average is $74.76 and its two-hundred day moving average is $73.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21.

Tecnoglass Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.85%. The ex-dividend date is Monday, March 31st. Tecnoglass’s dividend payout ratio (DPR) is currently 17.49%.

Analyst Upgrades and Downgrades

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

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.