Tecnoglass (NASDAQ:TGLS) Shares Down 4% – What’s Next?

Tecnoglass Inc. (NASDAQ:TGLS)’s share price traded down 4% during mid-day trading on Friday . The stock traded as low as $75.71 and last traded at $75.71. 85,591 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 169,884 shares. The stock had previously closed at $78.89.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TGLS shares. Robert W. Baird lifted their price target on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. B. Riley reiterated a “neutral” rating and set a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. StockNews.com assumed coverage on Tecnoglass in a report on Saturday, December 14th. They issued a “hold” rating for the company. DA Davidson raised their price target on Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Raymond James cut Tecnoglass from a “strong-buy” rating to a “market perform” rating 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $77.40.

Tecnoglass Trading Down 3.1 %

The company has a 50 day simple moving average of $77.85 and a 200 day simple moving average of $65.95. 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 stock has a market capitalization of $3.59 billion, a PE ratio of 23.89 and a beta of 1.90.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.97 by $0.11. The business 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 company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. Analysts predict that Tecnoglass Inc. will post 3.55 earnings per share for the current fiscal year.

Tecnoglass Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.15 dividend. This is an increase from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.78%. Tecnoglass’s payout ratio is presently 18.75%.

Insider Buying and Selling

In other news, Director Julio A. Torres sold 30,520 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were 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 SEC, which can be accessed through the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’s 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 completion of the sale, the insider now owns 23,195,988 shares of the company’s stock, valued at $1,693,771,043.76. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tecnoglass

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC increased its stake in Tecnoglass by 4,735.7% in the 3rd 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. Amalgamated Bank purchased a new position in shares of Tecnoglass in the second quarter valued at $39,000. DGS Capital Management LLC purchased a new stake in shares of Tecnoglass in the 3rd quarter worth about $204,000. Wolverine Trading LLC acquired a new stake in Tecnoglass in the 3rd quarter valued at about $225,000. Finally, X Square Capital LLC increased its holdings in Tecnoglass by 5.7% during the 2nd 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 in the last quarter. 37.35% of the stock is currently owned by institutional investors and hedge funds.

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.