Tecnoglass (NASDAQ:TGLS) Stock Price Down 4.6% – Here’s What Happened

Tecnoglass Inc. (NASDAQ:TGLS) shares were down 4.6% during mid-day trading on Tuesday . The company traded as low as $68.36 and last traded at $68.43. Approximately 101,940 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 366,242 shares. The stock had previously closed at $71.75.

Tecnoglass Price Performance

The company has a 50 day moving average price of $70.83 and a 200 day moving average price of $74.79. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $3.19 billion, a P/E ratio of 21.19 and a beta of 1.66.

Tecnoglass Dividend Announcement

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

Institutional Investors Weigh In On Tecnoglass

Several hedge funds have recently bought and sold shares of the stock. USA Financial Formulas acquired a new stake in Tecnoglass during the 4th quarter worth approximately $26,000. R Squared Ltd bought a new stake in shares of Tecnoglass in the fourth quarter valued at about $70,000. Signaturefd LLC increased its position in Tecnoglass by 32.6% during the fourth quarter. Signaturefd LLC now owns 898 shares of the company’s stock worth $71,000 after acquiring an additional 221 shares during the period. Covestor Ltd boosted its holdings in Tecnoglass by 6,293.8% in the 4th quarter. Covestor Ltd now owns 1,023 shares of the company’s stock valued at $81,000 after purchasing an additional 1,007 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in shares of Tecnoglass by 18.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,079 shares of the company’s stock worth $86,000 after purchasing an additional 170 shares during the period. 37.35% of the stock is currently owned by institutional investors and hedge funds.

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.