Goldman Sachs Group Inc. Sells 10,579 Shares of Tecnoglass Inc. (TGLS)

Goldman Sachs Group Inc. lessened its position in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 31.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,801 shares of the company’s stock after selling 10,579 shares during the period. Goldman Sachs Group Inc. owned approximately 0.07% of Tecnoglass worth $213,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Tecnoglass by 24.6% during the 2nd quarter. Vanguard Group Inc. now owns 77,402 shares of the company’s stock worth $722,000 after acquiring an additional 15,261 shares during the period. Northern Trust Corp lifted its holdings in shares of Tecnoglass by 15.6% during the 2nd quarter. Northern Trust Corp now owns 34,006 shares of the company’s stock worth $317,000 after acquiring an additional 4,588 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Tecnoglass by 36.7% during the 2nd quarter. Wells Fargo & Company MN now owns 22,001 shares of the company’s stock worth $205,000 after acquiring an additional 5,902 shares during the period. Kennedy Capital Management Inc. lifted its holdings in shares of Tecnoglass by 113.9% during the 2nd quarter. Kennedy Capital Management Inc. now owns 292,636 shares of the company’s stock worth $2,727,000 after acquiring an additional 155,847 shares during the period. Finally, Boston Partners bought a new stake in shares of Tecnoglass during the 2nd quarter worth approximately $975,000. 3.43% of the stock is owned by institutional investors.

Shares of Tecnoglass Inc. (NASDAQ TGLS) opened at $7.08 on Tuesday. Tecnoglass Inc. has a twelve month low of $5.50 and a twelve month high of $12.50. The company has a current ratio of 2.38, a quick ratio of 1.74 and a debt-to-equity ratio of 1.79. The firm has a market cap of $247.60, a P/E ratio of 16.43, a PEG ratio of 0.88 and a beta of 0.50.

The company also recently declared a dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, September 29th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, September 28th. This is an increase from Tecnoglass’s previous dividend of $0.13.

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TGLS has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Tecnoglass from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Dougherty & Co downgraded shares of Tecnoglass from a “buy” rating to a “neutral” rating in a report on Tuesday, August 15th. BidaskClub downgraded shares of Tecnoglass from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Finally, ValuEngine raised shares of Tecnoglass from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $17.00.

In related news, Director Martha L. Byorum sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $7.09, for a total transaction of $49,630.00. Following the completion of the transaction, the director now directly owns 113,651 shares in the company, valued at approximately $805,785.59. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Martha L. Byorum sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $7.06, for a total transaction of $28,240.00. Following the transaction, the director now owns 113,651 shares of the company’s stock, valued at $802,376.06. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Tecnoglass Company Profile

Tecnoglass Inc, through its subsidiaries, manufactures and sells architectural glass and windows for residential and commercial construction industries in North, Central, and South America. The company offers soft coat, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass.

Institutional Ownership by Quarter for Tecnoglass (NASDAQ:TGLS)

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