Tecnoglass (NASDAQ:TGLS) Stock Price Passes Above 50 Day Moving Average – Here’s What Happened

Tecnoglass Inc. (NASDAQ:TGLS) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $77.71 and traded as high as $80.18. Tecnoglass shares last traded at $78.89, with a volume of 258,501 shares.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. StockNews.com began coverage on shares of Tecnoglass in a report on Saturday, December 14th. They issued a “hold” rating on the stock. Raymond James downgraded shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. DA Davidson increased their price objective 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. B. Riley reissued a “neutral” rating and issued a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Finally, Sidoti cut 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. 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $77.40.

Tecnoglass Price Performance

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 firm has a market cap of $3.71 billion, a price-to-earnings ratio of 24.65 and a beta of 1.89. The stock has a 50-day moving average price of $77.71 and a 200 day moving average price of $65.73.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.11. The company had revenue of $237.90 million during the quarter, compared to analysts’ expectations of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 earnings per share. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.15 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. This represents a $0.60 dividend on an annualized basis and a yield of 0.76%. Tecnoglass’s payout ratio is currently 18.75%.

Insider Transactions at Tecnoglass

In other news, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass stock in a transaction dated 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 $1,693,771,043.76. The trade was a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Tecnoglass

Several institutional investors and hedge funds have recently added to or reduced their stakes in TGLS. Wellington Management Group LLP raised its position in Tecnoglass by 29.5% in the third quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock valued at $134,994,000 after purchasing an additional 447,647 shares during the period. Ensign Peak Advisors Inc boosted its stake in shares of Tecnoglass by 219.7% in the second quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock valued at $10,949,000 after purchasing an additional 149,933 shares during the period. William Blair Investment Management LLC grew its holdings in Tecnoglass by 8.7% during the 2nd quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock valued at $88,060,000 after purchasing an additional 140,112 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 buying an additional 96,602 shares in the last quarter. Finally, State Street Corp boosted its position in Tecnoglass by 29.1% in the 3rd quarter. State Street Corp now owns 416,964 shares of the company’s stock valued at $28,674,000 after buying an additional 93,968 shares during the last quarter. Institutional investors and hedge funds own 37.35% of the company’s stock.

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.