one8zero8 LLC Takes Position in Tecnoglass Inc. (NASDAQ:TGLS)

one8zero8 LLC bought a new stake in Tecnoglass Inc. (NASDAQ:TGLS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 101,124 shares of the company’s stock, valued at approximately $8,021,000. Tecnoglass accounts for about 1.7% of one8zero8 LLC’s portfolio, making the stock its 12th largest holding.

A number of other hedge funds have also made changes to their positions in TGLS. Wellington Management Group LLP raised its stake in shares of Tecnoglass by 29.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock valued at $134,994,000 after acquiring an additional 447,647 shares during the period. State Street Corp grew its holdings in Tecnoglass by 29.1% during the 3rd quarter. State Street Corp now owns 416,964 shares of the company’s stock valued at $28,674,000 after purchasing an additional 93,968 shares in the last quarter. Impax Asset Management Group plc grew its holdings in Tecnoglass by 65.0% during the 3rd quarter. Impax Asset Management Group plc now owns 165,000 shares of the company’s stock valued at $11,329,000 after purchasing an additional 65,000 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Tecnoglass during the 4th quarter valued at $4,344,000. Finally, Verition Fund Management LLC grew its holdings in Tecnoglass by 262.5% during the 3rd quarter. Verition Fund Management LLC now owns 48,894 shares of the company’s stock valued at $3,357,000 after purchasing an additional 35,406 shares in the last quarter. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Tecnoglass in a report on Saturday, December 14th. They set 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $77.40.

Tecnoglass Stock Up 2.6 %

TGLS stock opened at $68.16 on Friday. Tecnoglass Inc. has a 52 week low of $40.94 and a 52 week high of $86.99. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 21.30 and a beta of 1.94. The firm’s 50-day moving average is $74.91 and its two-hundred day moving average is $73.81. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20.

Tecnoglass Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.88%. Tecnoglass’s dividend payout ratio (DPR) is 17.49%.

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.