Tecnoglass (NYSE:TGLS) Hits New 12-Month Low – Here’s What Happened

Shares of Tecnoglass Inc. (NYSE:TGLSGet Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $37.35 and last traded at $38.07, with a volume of 14209 shares traded. The stock had previously closed at $37.72.

Analyst Upgrades and Downgrades

TGLS has been the topic of a number of recent analyst reports. Zacks Research raised Tecnoglass from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tecnoglass in a research note on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.33.

View Our Latest Stock Report on Tecnoglass

Tecnoglass Trading Up 2.1%

The firm’s 50 day simple moving average is $43.66 and its 200-day simple moving average is $43.99. The company has a market capitalization of $1.71 billion and a PE ratio of 13.62. The company has a quick ratio of 1.17, a current ratio of 1.86 and a debt-to-equity ratio of 0.28.

Tecnoglass (NYSE:TGLSGet Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $295.29 million for the quarter. Tecnoglass had a net margin of 12.35% and a return on equity of 17.84%. The business’s revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 EPS. As a group, equities research analysts anticipate that Tecnoglass Inc. will post 2.58 EPS for the current year.

Tecnoglass Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.60 annualized dividend and a yield of 1.6%. Tecnoglass’s dividend payout ratio (DPR) is 21.13%.

Institutional Investors Weigh In On Tecnoglass

Several institutional investors and hedge funds have recently modified their holdings of TGLS. Kemnay Advisory Services Inc. acquired a new stake in shares of Tecnoglass in the fourth quarter valued at about $28,000. Arax Advisory Partners lifted its position in Tecnoglass by 128.4% during the 4th quarter. Arax Advisory Partners now owns 596 shares of the company’s stock worth $30,000 after acquiring an additional 335 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Tecnoglass by 444.0% in the 1st quarter. Parallel Advisors LLC now owns 952 shares of the company’s stock worth $42,000 after acquiring an additional 777 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Tecnoglass by 223.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock worth $43,000 after acquiring an additional 440 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Tecnoglass in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

About Tecnoglass

(Get Free Report)

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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