Neumeier Poma Investment Counsel LLC Sells 172,669 Shares of Tecnoglass Inc. $TGLS

Neumeier Poma Investment Counsel LLC lowered its position in Tecnoglass Inc. (NYSE:TGLS) by 63.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,941 shares of the company’s stock after selling 172,669 shares during the quarter. Neumeier Poma Investment Counsel LLC owned about 0.21% of Tecnoglass worth $6,553,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Royal Bank of Canada grew 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 worth $224,000 after buying an additional 238 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Tecnoglass by 25.8% during the 1st quarter. AQR Capital Management LLC now owns 3,505 shares of the company’s stock valued at $251,000 after acquiring an additional 719 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Tecnoglass by 21.4% during the first quarter. Intech Investment Management LLC now owns 17,918 shares of the company’s stock worth $1,282,000 after purchasing an additional 3,161 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Tecnoglass in the second quarter worth approximately $293,000. Finally, Bryce Point Capital LLC purchased a new stake in Tecnoglass in the second quarter valued at approximately $691,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on TGLS. Weiss Ratings reissued a “hold (c)” rating on shares of Tecnoglass in a research note on Monday, December 22nd. DA Davidson cut their target price on shares of Tecnoglass from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, Zacks Research upgraded Tecnoglass from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.00.

Tecnoglass Stock Down 1.8%

Shares of NYSE:TGLS opened at $49.05 on Thursday. The stock has a market capitalization of $2.28 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 0.55 and a beta of 1.71. The stock’s 50-day moving average price is $51.36 and its 200-day moving average price is $58.10. The company has a current ratio of 1.98, a quick ratio of 1.40 and a debt-to-equity ratio of 0.15. Tecnoglass Inc. has a 12-month low of $44.26 and a 12-month high of $90.34.

Tecnoglass Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were given a $0.15 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.60 annualized dividend and a yield of 1.2%. Tecnoglass’s payout ratio is presently 15.58%.

About Tecnoglass

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high?performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family?run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.