Geode Capital Management LLC Purchases 29,281 Shares of Tecnoglass Inc. $TGLS

Geode Capital Management LLC raised its position in Tecnoglass Inc. (NASDAQ:TGLS) by 5.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 557,729 shares of the company’s stock after purchasing an additional 29,281 shares during the quarter. Geode Capital Management LLC owned 1.19% of Tecnoglass worth $43,154,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TGLS. New Age Alpha Advisors LLC bought a new position in shares of Tecnoglass during the first quarter valued at approximately $38,000. Farther Finance Advisors LLC boosted its holdings in Tecnoglass by 314.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 796 shares of the company’s stock valued at $62,000 after acquiring an additional 604 shares during the period. Valley National Advisers Inc. purchased a new stake in Tecnoglass in the second quarter worth $120,000. R Squared Ltd purchased a new stake in Tecnoglass in the second quarter worth $202,000. Finally, Entropy Technologies LP bought a new stake in shares of Tecnoglass during the first quarter worth $200,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Tecnoglass Trading Up 3.9%

Shares of NASDAQ TGLS opened at $48.34 on Wednesday. Tecnoglass Inc. has a twelve month low of $44.26 and a twelve month high of $90.34. The firm has a market cap of $2.25 billion, a PE ratio of 15.11 and a beta of 1.78. The business has a fifty day simple moving average of $58.92 and a two-hundred day simple moving average of $71.27. 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 (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, November 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.11). Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. During the same period in the previous year, the business posted $1.08 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Tecnoglass has set its FY 2025 guidance at EPS. Analysts expect that Tecnoglass Inc. will post 3.53 earnings per share for the current fiscal year.

Tecnoglass Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 30th. Tecnoglass’s dividend payout ratio is presently 15.58%.

Wall Street Analyst Weigh In

Separately, DA Davidson reduced their price target on shares of Tecnoglass from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat, Tecnoglass has an average rating of “Strong Buy” and an average price target of $90.00.

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.