Fmr LLC Cuts Stock Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

Fmr LLC lessened its position in Tecnoglass Inc. (NASDAQ:TGLS) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,626,720 shares of the company’s stock after selling 16,446 shares during the quarter. Fmr LLC owned about 0.08% of Tecnoglass worth $249,011,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tidal Investments LLC purchased a new position in Tecnoglass in the 1st quarter valued at $245,000. Walleye Trading LLC lifted its stake in shares of Tecnoglass by 664.2% in the first quarter. Walleye Trading LLC now owns 5,884 shares of the company’s stock worth $306,000 after buying an additional 5,114 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its position in Tecnoglass by 10.0% during the second quarter. Linden Thomas Advisory Services LLC now owns 10,150 shares of the company’s stock worth $509,000 after acquiring an additional 920 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Tecnoglass by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 13,681 shares of the company’s stock valued at $687,000 after acquiring an additional 292 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Tecnoglass in the 2nd quarter valued at about $3,929,000. 37.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tecnoglass

In related news, Director Julio A. Torres sold 30,520 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the sale, the insider now owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Tecnoglass Stock Up 1.7 %

Shares of TGLS opened at $81.05 on Monday. The company’s 50-day moving average price is $72.77 and its 200 day moving average price is $60.78. Tecnoglass Inc. has a 12-month low of $33.90 and a 12-month high of $82.68. 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 $3.81 billion, a P/E ratio of 25.33 and a beta of 1.86.

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, beating analysts’ consensus estimates of $0.97 by $0.11. The business had revenue of $237.90 million for the quarter, compared to the consensus estimate of $240.19 million. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The business’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. On average, sell-side analysts forecast that Tecnoglass Inc. will post 3.55 earnings per share for the current year.

Tecnoglass Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.11 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.54%. Tecnoglass’s payout ratio is presently 13.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TGLS shares. B. Riley restated a “neutral” rating and issued a $72.00 price target (up from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Raymond James cut Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Sidoti lowered Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a report on Tuesday, October 22nd. DA Davidson upped their price objective on shares of Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, StockNews.com assumed coverage on shares of Tecnoglass in a research note on Thursday. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $77.40.

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.