Tecnoglass (NASDAQ:TGLS) Sets New 1-Year High – Here’s What Happened

Shares of Tecnoglass Inc. (NASDAQ:TGLS) hit a new 52-week high during trading on Monday . The company traded as high as $82.01 and last traded at $81.80, with a volume of 43323 shares trading hands. The stock had previously closed at $79.34.

Wall Street Analysts Forecast Growth

TGLS has been the topic of a number of recent research reports. Stifel Nicolaus raised their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, August 9th. DA Davidson lifted their price target on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Raymond James downgraded shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. B. Riley reaffirmed a “neutral” rating and issued a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Finally, Sidoti downgraded 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. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.40.

Tecnoglass Stock Up 2.6 %

The stock’s fifty day moving average is $71.54 and its two-hundred day moving average is $59.85. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.82 billion, a P/E ratio of 25.43 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.97 by $0.11. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The firm had revenue of $237.90 million for the quarter, compared to the consensus estimate of $240.19 million. During the same period last year, the firm posted $0.98 earnings per share. The business’s revenue was up 13.1% compared to the same quarter last year. As a group, research analysts anticipate that Tecnoglass Inc. will post 3.55 earnings per share for the current year.

Tecnoglass Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Monday, September 30th. Tecnoglass’s payout ratio is currently 13.75%.

Insider Transactions at Tecnoglass

In other Tecnoglass news, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the completion of the transaction, the insider now owns 23,195,988 shares of the company’s stock, valued at approximately $1,693,771,043.76. This trade represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Julio A. Torres sold 30,520 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total transaction of $2,222,771.60. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of Tecnoglass

A number of hedge funds have recently made changes to their positions in TGLS. Amalgamated Bank purchased a new stake in shares of Tecnoglass in the second quarter worth $39,000. Signaturefd LLC raised its holdings in Tecnoglass by 4,735.7% in the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after buying an additional 663 shares during the last quarter. X Square Capital LLC lifted its stake in shares of Tecnoglass by 5.7% in the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after buying an additional 237 shares in the last quarter. PFG Investments LLC purchased a new position in Tecnoglass in the 2nd quarter worth approximately $220,000. Finally, Wolverine Trading LLC bought a new position in Tecnoglass in the 3rd quarter valued at approximately $225,000. 37.35% of the stock is owned by institutional investors.

Tecnoglass Company Profile

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.