Tecnoglass (NYSE:TGLS) Major Shareholder Acquires $770,002.67 in Stock

Tecnoglass Inc. (NYSE:TGLS) major shareholder Holding Corp Energy acquired 19,121 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $40.27 per share, for a total transaction of $770,002.67. Following the purchase, the insider directly owned 20,831,985 shares of the company’s stock, valued at $838,904,035.95. This represents a 0.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Holding Corp Energy also recently made the following trade(s):

• On Thursday, May 14th, Holding Corp Energy acquired 80,879 shares of Tecnoglass stock. The shares were acquired at an average cost of $40.56 per share, for a total transaction of $3,280,452.24.
• On Friday, March 13th, Holding Corp Energy acquired 107,629 shares of Tecnoglass stock. The shares were acquired at an average cost of $45.11 per share, for a total transaction of $4,855,144.19.
• On Thursday, March 12th, Holding Corp Energy bought 107,600 shares of Tecnoglass stock. The stock was purchased at an average price of $45.28 per share, for a total transaction of $4,872,128.00.
• On Wednesday, March 11th, Holding Corp Energy acquired 92,066 shares of Tecnoglass stock. The shares were bought at an average cost of $44.24 per share, with a total value of $4,072,999.84.
• On Tuesday, March 10th, Holding Corp Energy acquired 107,600 shares of Tecnoglass stock. The shares were bought at an average cost of $43.41 per share, with a total value of $4,670,916.00.
• On Monday, March 9th, Holding Corp Energy bought 107,000 shares of Tecnoglass stock. The shares were acquired at an average cost of $41.06 per share, with a total value of $4,393,420.00.

Tecnoglass Stock Up 0.1%

Shares of TGLS stock opened at $38.65 on Monday. The stock has a market cap of $1.71 billion, a P/E ratio of 11.96, a P/E/G ratio of 0.64 and a beta of 1.42. Tecnoglass Inc. has a 12 month low of $37.52 and a 12 month high of $90.34. The company has a 50 day simple moving average of $43.10 and a two-hundred day simple moving average of $48.15. The company has a current ratio of 1.77, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26.

Tecnoglass (NYSE:TGLS) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The business had revenue of $249.01 million during the quarter, compared to analyst estimates of $243.00 million. Tecnoglass had a net margin of 14.77% and a return on equity of 21.51%. The company’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. On average, research analysts expect that Tecnoglass Inc. will post 2.73 earnings per share for the current year.

Tecnoglass Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Tuesday, March 31st were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.6%. Tecnoglass’s dividend payout ratio is currently 18.58%.

Hedge Funds Weigh In On Tecnoglass

Several institutional investors have recently made changes to their positions in the company. Citigroup Inc. increased its holdings in Tecnoglass by 445.3% in the 3rd quarter. Citigroup Inc. now owns 526,061 shares of the company’s stock worth $35,199,000 after acquiring an additional 429,590 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Tecnoglass by 9.6% during the 3rd quarter. American Century Companies Inc. now owns 1,022,101 shares of the company’s stock valued at $68,389,000 after acquiring an additional 89,175 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Tecnoglass by 53.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,460 shares of the company’s stock valued at $2,239,000 after acquiring an additional 11,649 shares during the last quarter. Capital World Investors boosted its position in shares of Tecnoglass by 6.2% during the 3rd quarter. Capital World Investors now owns 1,794,272 shares of the company’s stock valued at $120,055,000 after acquiring an additional 104,132 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Tecnoglass by 3.1% in the third quarter. First Trust Advisors LP now owns 1,026,970 shares of the company’s stock valued at $68,715,000 after buying an additional 30,834 shares during the last quarter. 37.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TGLS. B. Riley Financial reduced their target price on shares of Tecnoglass from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. DA Davidson reduced their price target on shares of Tecnoglass from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Tecnoglass in a research report on Friday, April 10th. Zacks Research downgraded shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Finally, Robert W. Baird lowered their price target on shares of Tecnoglass from $62.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.33.

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.