Tecnoglass Inc. (NASDAQ:TGLS) Stock Holdings Boosted by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in Tecnoglass Inc. (NASDAQ:TGLS) by 4.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 500,265 shares of the company’s stock after acquiring an additional 22,700 shares during the period. Geode Capital Management LLC’s holdings in Tecnoglass were worth $34,355,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in shares of Tecnoglass during the second quarter worth $3,929,000. Crossmark Global Holdings Inc. lifted its stake in Tecnoglass by 3.2% during the second quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock valued at $355,000 after buying an additional 220 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Tecnoglass in the second quarter worth about $909,000. Rhumbline Advisers purchased a new position in shares of Tecnoglass in the second quarter worth approximately $1,468,000. Finally, X Square Capital LLC raised its holdings in shares of 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 acquiring an additional 237 shares during the period. Institutional investors and hedge funds own 37.35% of the company’s stock.

Insider Transactions at Tecnoglass

In related news, Director Julio A. Torres sold 30,520 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the stock in a transaction that occurred 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 sale, the insider now owns 23,195,988 shares of the company’s stock, valued at approximately $1,693,771,043.76. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TGLS shares. Raymond James cut shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. DA Davidson increased their price target on shares of Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Sidoti lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research note on Tuesday, October 22nd. StockNews.com began coverage on Tecnoglass in a report on Saturday, December 14th. They set a “hold” rating for the company. Finally, Robert W. Baird boosted their target price on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Tecnoglass has a consensus rating of “Hold” and a consensus price target of $77.40.

Tecnoglass Stock Up 2.3 %

TGLS stock 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 firm has a market cap of $3.84 billion, a PE ratio of 25.54 and a beta of 1.90. Tecnoglass Inc. has a 1 year low of $40.94 and a 1 year high of $86.08. The company has a fifty day simple moving average of $76.72 and a 200 day simple moving average of $64.28.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.11. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The company had revenue of $237.90 million during the quarter, compared to the consensus estimate of $240.19 million. During the same quarter in the prior year, the company posted $0.98 EPS. The firm’s revenue was up 13.1% on a year-over-year basis. Sell-side analysts anticipate that Tecnoglass Inc. will post 3.55 EPS for the current fiscal year.

Tecnoglass Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.15 dividend. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.73%. Tecnoglass’s dividend payout ratio (DPR) is currently 18.75%.

Tecnoglass 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.