Tecnoglass Inc. (NASDAQ:TGLS) Major Shareholder Sells $104,573,402.40 in Stock

by · The Markets Daily

Tecnoglass Inc. (NASDAQ:TGLS – Get Free Report) major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the completion of the sale, the insider now owns 23,195,988 shares of the company’s stock, valued at approximately $1,693,771,043.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Tecnoglass Trading Down 6.8 %

NASDAQ:TGLS traded down $5.43 during trading hours on Tuesday, reaching $73.94. The company’s stock had a trading volume of 1,061,282 shares, compared to its average volume of 371,947. The firm has a 50-day simple moving average of $69.01 and a 200-day simple moving average of $58.52. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.43. Tecnoglass Inc. has a 1 year low of $32.69 and a 1 year high of $80.51. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 22.87 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS – Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.11. The business had revenue of $237.90 million for the quarter, compared to analyst estimates of $240.19 million. Tecnoglass had a net margin of 17.82% and a return on equity of 28.30%. The company’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. Research analysts expect that Tecnoglass Inc. will post 3.52 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a dividend of $0.11 per share. The ex-dividend date was Monday, September 30th. This represents a $0.44 annualized dividend and a yield of 0.60%. Tecnoglass’s dividend payout ratio (DPR) is presently 13.75%.

Hedge Funds Weigh In On Tecnoglass

A number of hedge funds have recently modified their holdings of the company. Signaturefd LLC boosted its position in shares of Tecnoglass by 4,735.7% during the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after acquiring an additional 663 shares during the last quarter. Amalgamated Bank purchased a new stake in shares of Tecnoglass in the second quarter valued at $39,000. EntryPoint Capital LLC bought a new stake in shares of Tecnoglass in the 1st quarter worth about $227,000. X Square Capital LLC grew its holdings in Tecnoglass by 5.7% during the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after purchasing an additional 237 shares during the last quarter. Finally, PFG Investments LLC bought a new position in shares of Tecnoglass during the second quarter valued at approximately $220,000. 37.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TGLS has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday. DA Davidson lifted their target price on Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday. Sidoti lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research note on Tuesday, October 22nd. B. Riley reissued a “neutral” rating and set a $72.00 price objective (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Finally, Stifel Nicolaus increased their price target on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $77.40.

Check Out Our Latest Analysis on Tecnoglass

About Tecnoglass

(Get Free Report)

Tecnoglass Inc manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally. The company provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.

Featured Articles