PDT Partners LLC Boosts Position in Tecnoglass Inc. $TGLS

PDT Partners LLC boosted its holdings in Tecnoglass Inc. (NASDAQ:TGLS) by 963.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 53,167 shares of the company’s stock after purchasing an additional 48,167 shares during the quarter. PDT Partners LLC’s holdings in Tecnoglass were worth $3,804,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TGLS. Wellington Management Group LLP raised its stake in shares of Tecnoglass by 15.6% during the first quarter. Wellington Management Group LLP now owns 1,883,864 shares of the company’s stock valued at $134,790,000 after purchasing an additional 254,686 shares during the period. Trexquant Investment LP boosted its holdings in Tecnoglass by 741.3% in the first quarter. Trexquant Investment LP now owns 119,997 shares of the company’s stock worth $8,586,000 after purchasing an additional 105,733 shares during the period. American Century Companies Inc. boosted its holdings in Tecnoglass by 12.1% in the first quarter. American Century Companies Inc. now owns 816,166 shares of the company’s stock worth $58,397,000 after purchasing an additional 87,791 shares during the period. Nuveen LLC acquired a new position in shares of Tecnoglass during the first quarter valued at $5,332,000. Finally, Silvercrest Asset Management Group LLC acquired a new position in shares of Tecnoglass during the fourth quarter valued at $4,239,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, B. Riley began coverage on shares of Tecnoglass in a report on Friday, May 16th. They set a “buy” rating and a $100.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

Tecnoglass Price Performance

NASDAQ TGLS opened at $72.60 on Tuesday. The stock’s 50-day moving average price is $75.72 and its two-hundred day moving average price is $75.22. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The company has a market cap of $3.41 billion, a PE ratio of 22.69 and a beta of 1.87. Tecnoglass Inc. has a 1 year low of $58.24 and a 1 year high of $90.34.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.07. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%.During the same quarter in the prior year, the firm posted $0.86 EPS. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. Tecnoglass has set its FY 2025 guidance at EPS. On average, analysts predict that Tecnoglass Inc. will post 3.53 EPS for the current year.

Tecnoglass Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, June 30th. Tecnoglass’s payout ratio is 15.42%.

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.