Portolan Capital Management LLC Sells 2,707 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Portolan Capital Management LLC lowered its holdings in Tecnoglass Inc. (NASDAQ:TGLS) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 290,880 shares of the company’s stock after selling 2,707 shares during the quarter. Tecnoglass makes up 1.4% of Portolan Capital Management LLC’s portfolio, making the stock its 16th biggest position. Portolan Capital Management LLC owned 0.62% of Tecnoglass worth $19,972,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TGLS. Tidal Investments LLC bought a new stake in shares of Tecnoglass in the 1st quarter valued at about $245,000. Linden Thomas Advisory Services LLC raised its holdings in shares of Tecnoglass by 10.0% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 10,150 shares of the company’s stock valued at $509,000 after purchasing an additional 920 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Tecnoglass by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 13,681 shares of the company’s stock valued at $687,000 after purchasing an additional 292 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Tecnoglass in the 2nd quarter valued at about $3,929,000. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of Tecnoglass by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock valued at $355,000 after purchasing an additional 220 shares in the last quarter. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Stock Up 2.4 %

NASDAQ:TGLS opened at $81.84 on Wednesday. The company has a market cap of $3.85 billion, a PE ratio of 25.58 and a beta of 1.89. Tecnoglass Inc. has a twelve month low of $36.14 and a twelve month high of $82.68. 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’s 50 day moving average is $73.34 and its two-hundred day moving average is $61.16.

Tecnoglass (NASDAQ:TGLS) last released its earnings results on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.11. The company had revenue of $237.90 million for the quarter, compared to the consensus estimate of $240.19 million. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. Tecnoglass’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 EPS. Analysts anticipate that Tecnoglass Inc. will post 3.55 EPS for the current year.

Tecnoglass Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a dividend of $0.11 per share. The ex-dividend date was Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.54%. Tecnoglass’s payout ratio is currently 13.75%.

Insider Buying and Selling at Tecnoglass

In other Tecnoglass news, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the completion of the transaction, the insider now owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. This trade represents a 5.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Julio A. Torres sold 30,520 shares of Tecnoglass stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total value of $2,222,771.60. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

TGLS has been the subject of several recent analyst reports. B. Riley reiterated a “neutral” rating and set a $72.00 price objective (up previously from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. DA Davidson boosted their price objective on shares of Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Raymond James lowered shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Sidoti lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research note on Tuesday, October 22nd. Finally, Robert W. Baird boosted their price objective on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. 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.