Tecnoglass Inc. (NASDAQ:TGLS) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC reduced its stake in Tecnoglass Inc. (NASDAQ:TGLS) by 18.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,086 shares of the company’s stock after selling 927 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Tecnoglass were worth $205,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. EntryPoint Capital LLC acquired a new position in Tecnoglass during the first quarter worth $227,000. X Square Capital LLC raised its holdings in shares of Tecnoglass by 5.7% in the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after buying an additional 237 shares during the period. PFG Investments LLC acquired a new position in Tecnoglass during the 2nd quarter worth about $220,000. Tidal Investments LLC purchased a new position in Tecnoglass during the 1st quarter valued at about $245,000. Finally, Walleye Trading LLC grew its position in Tecnoglass by 664.2% in the 1st quarter. Walleye Trading LLC now owns 5,884 shares of the company’s stock valued at $306,000 after acquiring an additional 5,114 shares in the last quarter. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Tecnoglass Price Performance

Tecnoglass stock opened at $66.83 on Monday. The company has a current ratio of 2.43, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24. The company has a fifty day simple moving average of $56.53 and a 200-day simple moving average of $52.95. The stock has a market cap of $3.14 billion, a P/E ratio of 19.26 and a beta of 1.86. Tecnoglass Inc. has a 12-month low of $28.21 and a 12-month high of $68.00.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The company had revenue of $219.65 million during the quarter, compared to the consensus estimate of $219.29 million. During the same period in the previous year, the business earned $1.12 EPS. Tecnoglass’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities analysts expect that Tecnoglass Inc. will post 3.42 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Monday, September 30th. Tecnoglass’s dividend payout ratio (DPR) is 12.68%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. 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 boosted their price target on shares of Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Robert W. Baird increased their price objective on Tecnoglass from $60.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, Sidoti raised Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Wednesday, June 26th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.83.

About Tecnoglass

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.