Tecnoglass Inc. (NASDAQ:TGLS) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its holdings in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 45.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 222,968 shares of the company’s stock after selling 182,155 shares during the quarter. Alliancebernstein L.P. owned 0.47% of Tecnoglass worth $17,686,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in shares of Tecnoglass in the fourth quarter valued at $26,000. R Squared Ltd acquired a new stake in Tecnoglass in the 4th quarter valued at about $70,000. Signaturefd LLC grew its position in shares of Tecnoglass by 32.6% during the fourth quarter. Signaturefd LLC now owns 898 shares of the company’s stock worth $71,000 after buying an additional 221 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Tecnoglass during the fourth quarter worth approximately $108,000. Finally, EntryPoint Capital LLC acquired a new stake in Tecnoglass in the fourth quarter valued at approximately $203,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Tecnoglass Stock Performance

Shares of Tecnoglass stock opened at $62.61 on Wednesday. The firm has a market capitalization of $2.94 billion, a P/E ratio of 19.56 and a beta of 1.66. 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 Inc. has a 52 week low of $40.94 and a 52 week high of $86.99. The firm’s 50 day moving average is $71.42 and its two-hundred day moving average is $74.69.

Tecnoglass Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 0.96%. Tecnoglass’s dividend payout ratio is currently 17.49%.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Tecnoglass in a research 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $77.40.

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.