Barclays PLC Purchases 8,613 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Barclays PLC lifted its position in Tecnoglass Inc. (NASDAQ:TGLS) by 32.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,376 shares of the company’s stock after buying an additional 8,613 shares during the period. Barclays PLC’s holdings in Tecnoglass were worth $2,429,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TGLS. Principal Financial Group Inc. bought a new stake in shares of Tecnoglass in the third quarter worth about $2,211,000. Rhumbline Advisers bought a new stake in Tecnoglass during the 2nd quarter worth approximately $1,468,000. The Manufacturers Life Insurance Company acquired a new stake in Tecnoglass during the 2nd quarter worth approximately $589,000. GSA Capital Partners LLP lifted its stake in Tecnoglass by 262.4% in the third quarter. GSA Capital Partners LLP now owns 20,089 shares of the company’s stock valued at $1,379,000 after buying an additional 14,545 shares in the last quarter. Finally, Semanteon Capital Management LP acquired a new position in shares of Tecnoglass in the third quarter valued at approximately $1,237,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TGLS shares. Sidoti cut shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research report on Tuesday, October 22nd. StockNews.com began coverage on Tecnoglass in a research report on Saturday, December 14th. They set a “hold” rating for the company. Raymond James downgraded Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. DA Davidson boosted their target price on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, 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 research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.40.

Tecnoglass Price Performance

Shares of TGLS opened at $81.72 on Thursday. 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 company’s fifty day simple moving average is $76.72 and its 200 day simple moving average is $64.28. Tecnoglass Inc. has a 1-year low of $40.94 and a 1-year high of $86.08. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 25.54 and a beta of 1.90.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.08 earnings per share 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 company had revenue of $237.90 million for the quarter, compared to analyst estimates of $240.19 million. During the same period in the previous year, the business earned $0.98 EPS. Tecnoglass’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, research analysts forecast 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 an increase from Tecnoglass’s previous quarterly dividend of $0.11. This represents a $0.60 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Tuesday, December 31st. Tecnoglass’s payout ratio is currently 18.75%.

Insider Buying and Selling

In other Tecnoglass news, major shareholder Holding Corp Energy sold 1,432,120 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total value of $104,573,402.40. Following the transaction, the insider now directly owns 23,195,988 shares in the company, valued at $1,693,771,043.76. The trade was a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Julio A. Torres sold 30,520 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was 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. 0.25% of the stock is owned by 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.