Dimensional Fund Advisors LP boosted its stake in Tecnoglass Inc. (NYSE:TGLS – Free Report) by 15.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,243,496 shares of the company’s stock after purchasing an additional 161,955 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Tecnoglass were worth $55,395,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. 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 valued at $224,000 after purchasing an additional 238 shares in the last quarter. Blue Chip Partners LLC raised its position in shares of Tecnoglass by 6.2% in the 4th quarter. Blue Chip Partners LLC now owns 4,250 shares of the company’s stock worth $214,000 after acquiring an additional 250 shares in the last quarter. First Horizon Corp lifted its stake in shares of Tecnoglass by 63.3% in the 4th quarter. First Horizon Corp now owns 673 shares of the company’s stock valued at $34,000 after purchasing an additional 261 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Tecnoglass by 2.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 12,459 shares of the company’s stock valued at $627,000 after purchasing an additional 295 shares in the last quarter. Finally, Arax Advisory Partners grew its stake in Tecnoglass by 128.4% in the fourth quarter. Arax Advisory Partners now owns 596 shares of the company’s stock worth $30,000 after purchasing an additional 335 shares during the period. 37.35% of the stock is currently owned by institutional investors.
Insider Activity
In related news, major shareholder Holding Corp Energy acquired 19,121 shares of Tecnoglass stock in a transaction dated Friday, May 15th. The stock was purchased 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 approximately $838,904,035.95. This trade represents a 0.09% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by insiders.
Tecnoglass Price Performance
Tecnoglass (NYSE:TGLS – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. Tecnoglass had a net margin of 14.77% and a return on equity of 21.51%. The business’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 earnings per share. On average, sell-side analysts forecast that Tecnoglass Inc. will post 2.73 EPS for the current year.
Tecnoglass Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.4%. Tecnoglass’s payout ratio is presently 18.58%.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on TGLS. Robert W. Baird reduced their target price on shares of Tecnoglass from $62.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 21st. Weiss Ratings cut Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 20th. Finally, Zacks Research raised Tecnoglass from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.33.
View Our Latest Analysis on Tecnoglass
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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