Tecnoglass (NASDAQ:TGLS) Stock Crosses Above 50 Day Moving Average – Here’s Why

Tecnoglass Inc. (NASDAQ:TGLS) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $77.71 and traded as high as $80.18. Tecnoglass shares last traded at $78.89, with a volume of 258,501 shares.

Wall Street Analyst Weigh In

TGLS has been the subject of a number of research analyst reports. Raymond James lowered shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Robert W. Baird lifted their price target on shares of Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, November 8th. StockNews.com started coverage on shares of Tecnoglass in a research note on Saturday, December 14th. They issued a “hold” rating on the stock. B. Riley restated 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, Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a report on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $77.40.

Tecnoglass Stock Down 3.1 %

The firm has a market cap of $3.59 billion, a P/E ratio of 23.89 and a beta of 1.89. The company’s 50-day simple moving average is $77.85 and its 200 day simple moving average is $65.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $240.19 million. During the same quarter last year, the firm earned $0.98 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. Research analysts anticipate that Tecnoglass Inc. will post 3.55 EPS for the current fiscal year.

Tecnoglass Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.78%. This is an increase from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s payout ratio is currently 18.75%.

Insider Buying and Selling

In other news, major shareholder Holding Corp Energy sold 1,432,120 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total value of $104,573,402.40. Following the sale, the insider now directly owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. This 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 the SEC website. 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 value of $2,222,771.60. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tecnoglass

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TGLS. Signaturefd LLC raised its position in Tecnoglass by 4,735.7% during the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after purchasing an additional 663 shares in the last quarter. Amalgamated Bank purchased a new stake in Tecnoglass in the second quarter worth about $39,000. DGS Capital Management LLC bought a new position in Tecnoglass during the 3rd quarter worth about $204,000. Wolverine Trading LLC bought a new position in Tecnoglass during the 3rd quarter worth about $225,000. Finally, X Square Capital LLC increased its position 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 period. Institutional investors own 37.35% of the company’s stock.

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.