Tecnoglass Inc. (NASDAQ:TGLS) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 7.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,649 shares of the company’s stock after selling 361 shares during the quarter. M&T Bank Corp’s holdings in Tecnoglass were worth $319,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TGLS. Wellington Management Group LLP grew its stake in shares of Tecnoglass by 29.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock valued at $134,994,000 after buying an additional 447,647 shares during the period. William Blair Investment Management LLC grew its position in Tecnoglass by 8.7% during the second quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock valued at $88,060,000 after acquiring an additional 140,112 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Tecnoglass by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after purchasing an additional 96,602 shares during the period. State Street Corp raised its holdings in shares of Tecnoglass by 29.1% in the 3rd quarter. State Street Corp now owns 416,964 shares of the company’s stock worth $28,674,000 after purchasing an additional 93,968 shares during the period. Finally, Ensign Peak Advisors Inc grew its holdings in shares of Tecnoglass by 219.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after purchasing an additional 149,933 shares during the period. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Insider Transactions at Tecnoglass

In other news, major shareholder Holding Corp Energy sold 1,432,120 shares of the stock in a transaction dated 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 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Julio A. Torres sold 30,520 shares of Tecnoglass stock in a transaction dated 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. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TGLS shares. B. Riley restated a “neutral” rating and issued a $72.00 price target (up previously from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. 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 report on Tuesday, October 22nd. StockNews.com assumed coverage on shares of Tecnoglass in a research report on Saturday, December 14th. They set a “hold” rating for the company. Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird upped their target price on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $77.40.

Tecnoglass Stock Performance

Shares of TGLS stock opened at $78.78 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. The company’s fifty day moving average price is $76.15 and its two-hundred day moving average price is $63.18. The firm has a market capitalization of $3.70 billion, a P/E ratio of 24.62 and a beta of 1.89. Tecnoglass Inc. has a 12 month low of $40.94 and a 12 month high of $86.08.

Tecnoglass (NASDAQ:TGLS) last announced its 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 return on equity of 27.71% and a net margin of 17.82%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. On average, research analysts anticipate that Tecnoglass Inc. will post 3.55 earnings per share for the current fiscal year.

Tecnoglass Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.15 per share. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. This represents a $0.60 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Tuesday, December 31st. Tecnoglass’s dividend payout ratio is 18.75%.

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.