Intech Investment Management LLC Acquires New Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

Intech Investment Management LLC bought a new position in Tecnoglass Inc. (NASDAQ:TGLS) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 7,413 shares of the company’s stock, valued at approximately $509,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Amalgamated Bank bought a new stake in Tecnoglass during the second quarter valued at approximately $39,000. Signaturefd LLC lifted its position in Tecnoglass by 4,735.7% during the third 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. X Square Capital LLC grew its holdings in Tecnoglass by 5.7% during the second 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. PFG Investments LLC purchased a new stake in Tecnoglass in the second quarter worth about $220,000. Finally, Tidal Investments LLC bought a new position in shares of Tecnoglass in the first quarter worth about $245,000. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Tecnoglass Trading Up 1.7 %

TGLS opened at $81.05 on Monday. Tecnoglass Inc. has a 52 week low of $33.90 and a 52 week high of $82.68. The company has a market capitalization of $3.81 billion, a P/E ratio of 25.33 and a beta of 1.86. The stock’s fifty day moving average is $72.77 and its two-hundred day moving average is $60.78. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $240.19 million. During the same quarter in the previous year, the business posted $0.98 EPS. Tecnoglass’s revenue was up 13.1% on a year-over-year basis. Analysts forecast that Tecnoglass Inc. will post 3.55 earnings per share for the current year.

Tecnoglass Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TGLS. B. Riley reissued a “neutral” rating and issued a $72.00 target price (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Sidoti cut shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research note on Tuesday, October 22nd. StockNews.com assumed coverage on shares of Tecnoglass in a research note on Thursday. They set a “hold” rating on the stock. Robert W. Baird increased their price target on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Stifel Nicolaus boosted their price objective on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Tecnoglass currently has an average rating of “Hold” and an average price target of $77.40.

Insider Activity 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 value of $104,573,402.40. Following the transaction, the insider now owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. This trade represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Julio A. Torres sold 30,520 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was 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 company insiders.

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.