Capital World Investors reduced its position in shares of Tecnoglass Inc. (NYSE:TGLS – Free Report) by 39.1% during the 4th quarter, HoldingsChannel reports. The fund owned 1,093,255 shares of the company’s stock after selling 701,017 shares during the period. Capital World Investors’ holdings in Tecnoglass were worth $55,013,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of TGLS. Royal Bank of Canada boosted its stake in shares of Tecnoglass by 8.3% during the 1st quarter. Royal Bank of Canada now owns 3,121 shares of the company’s stock worth $224,000 after acquiring an additional 238 shares in the last quarter. AQR Capital Management LLC boosted its stake 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 worth $251,000 after acquiring an additional 719 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Tecnoglass by 21.4% during the 1st quarter. Intech Investment Management LLC now owns 17,918 shares of the company’s stock worth $1,282,000 after acquiring an additional 3,161 shares in the last quarter. Legal & General Group Plc lifted its stake in Tecnoglass by 23.9% in the 2nd quarter. Legal & General Group Plc now owns 5,115 shares of the company’s stock valued at $396,000 after buying an additional 987 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in Tecnoglass in the 2nd quarter valued at about $217,000. 37.35% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on TGLS. DA Davidson decreased 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. Robert W. Baird decreased their price target on shares of Tecnoglass from $62.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 21st. Zacks Research lowered shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Weiss Ratings lowered shares of Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 20th. Finally, B. Riley Financial decreased their price target 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. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $63.33.
Tecnoglass Stock Up 3.1%
TGLS stock opened at $43.66 on Wednesday. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.70 and a beta of 1.42. 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 Inc. has a 12 month low of $37.52 and a 12 month high of $89.66. The firm has a 50-day moving average of $42.84 and a two-hundred day moving average of $47.02.
Tecnoglass (NYSE:TGLS – Get Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The company had revenue of $249.01 million during the quarter, compared to the consensus estimate of $243.00 million. Tecnoglass had a net margin of 14.77% and a return on equity of 21.51%. Tecnoglass’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. As a group, analysts forecast that Tecnoglass Inc. will post 2.73 earnings per share for the current fiscal year.
Tecnoglass Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st were issued 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 1.4%. Tecnoglass’s dividend payout ratio (DPR) is currently 13.93%.
Insider Activity
In other news, major shareholder Holding Corp Energy purchased 19,121 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was acquired at an average price of $40.27 per share, for a total transaction of $770,002.67. Following the acquisition, the insider directly owned 20,831,985 shares of the company’s stock, valued at approximately $838,904,035.95. This represents a 0.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have purchased 315,229 shares of company stock worth $13,777,727. 0.06% of the stock is owned by company insiders.
Tecnoglass Company Profile
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.
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