Tecnoglass Inc. $TGLS Shares Sold by Polaris Capital Management LLC

Polaris Capital Management LLC reduced its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 20.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 625,464 shares of the company’s stock after selling 158,500 shares during the quarter. Tecnoglass accounts for approximately 3.2% of Polaris Capital Management LLC’s investment portfolio, making the stock its 6th biggest holding. Polaris Capital Management LLC’s holdings in Tecnoglass were worth $48,386,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. JFS Wealth Advisors LLC lifted its stake in shares of Tecnoglass by 1,350.0% during the first quarter. JFS Wealth Advisors LLC now owns 435 shares of the company’s stock worth $31,000 after buying an additional 405 shares during the period. New Age Alpha Advisors LLC acquired a new position in Tecnoglass during the first quarter valued at $38,000. Farther Finance Advisors LLC lifted its position in Tecnoglass by 314.6% during the second quarter. Farther Finance Advisors LLC now owns 796 shares of the company’s stock valued at $62,000 after purchasing an additional 604 shares during the period. Entropy Technologies LP acquired a new position in Tecnoglass during the first quarter valued at $200,000. Finally, Royal Bank of Canada lifted its position in Tecnoglass by 8.3% during the first quarter. Royal Bank of Canada now owns 3,121 shares of the company’s stock valued at $224,000 after purchasing an additional 238 shares during the period. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Tecnoglass Trading Down 0.4%

NASDAQ TGLS opened at $66.12 on Friday. The company has a market capitalization of $3.11 billion, a PE ratio of 20.66 and a beta of 1.83. The company has a fifty day moving average of $72.52 and a 200 day moving average of $75.12. Tecnoglass Inc. has a 1 year low of $60.25 and a 1 year high of $90.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63.

Tecnoglass (NASDAQ:TGLS) last posted its earnings results on Thursday, August 7th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.07. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The firm’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Tecnoglass has set its FY 2025 guidance at EPS. Research analysts forecast that Tecnoglass Inc. will post 3.53 earnings per share for the current year.

Tecnoglass Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. Tecnoglass’s payout ratio is currently 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.