Tecnoglass (NYSE:TGLS) Shares Gap Down – Here’s Why
by Teresa Graham · The Cerbat GemTecnoglass Inc. (NYSE:TGLS – Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $45.61, but opened at $41.70. Tecnoglass shares last traded at $41.7620, with a volume of 48,696 shares trading hands.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on TGLS shares. Zacks Research cut Tecnoglass from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. B. Riley Financial reduced their price target on Tecnoglass from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, March 6th. DA Davidson reduced their price target on Tecnoglass from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tecnoglass in a research report on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Tecnoglass currently has an average rating of “Hold” and an average price target of $67.50.
Get Our Latest Stock Analysis on TGLS
Tecnoglass Price Performance
The business’s 50-day moving average price is $46.52 and its 200 day moving average price is $51.93. The stock has a market capitalization of $1.98 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 0.55 and a beta of 1.55. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.25 and a current ratio of 1.86.
Tecnoglass (NYSE:TGLS – Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.21). The firm had revenue of $245.30 million for the quarter. Tecnoglass had a net margin of 16.22% and a return on equity of 23.05%. Tecnoglass’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 EPS.
Tecnoglass Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, March 31st. Tecnoglass’s payout ratio is 17.54%.
Insider Buying and Selling at Tecnoglass
In related news, major shareholder Holding Corp Energy bought 107,629 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average cost of $45.11 per share, for a total transaction of $4,855,144.19. Following the completion of the transaction, the insider owned 20,731,985 shares of the company’s stock, valued at approximately $935,219,843.35. The trade was a 0.52% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anne Louise Carricarte bought 1,100 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average price of $43.27 per share, with a total value of $47,597.00. Following the completion of the transaction, the director directly owned 1,100 shares of the company’s stock, valued at $47,597. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 522,995 shares of company stock worth $22,912,205. Corporate insiders own 0.06% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. grew its position in Tecnoglass by 276.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,359 shares of the company’s stock worth $68,000 after acquiring an additional 998 shares in the last quarter. Invesco Ltd. grew its position in Tecnoglass by 2.6% in the fourth quarter. Invesco Ltd. now owns 33,225 shares of the company’s stock worth $1,672,000 after acquiring an additional 827 shares in the last quarter. Blue Chip Partners LLC grew its position in Tecnoglass by 6.3% in the fourth 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. Empowered Funds LLC purchased a new position in Tecnoglass in the fourth quarter worth $49,000. Finally, XTX Topco Ltd purchased a new position in Tecnoglass in the fourth quarter worth $3,023,000. 37.35% of the stock is currently owned by hedge funds and other institutional investors.
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.