BNP Paribas Financial Markets Increases Position in Tecnoglass Inc. (NASDAQ:TGLS)

BNP Paribas Financial Markets boosted its holdings in Tecnoglass Inc. (NASDAQ:TGLS) by 74.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,097 shares of the company’s stock after purchasing an additional 6,005 shares during the quarter. BNP Paribas Financial Markets’ holdings in Tecnoglass were worth $968,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TGLS. Amalgamated Bank purchased a new stake in shares of Tecnoglass during the second quarter valued at approximately $39,000. Signaturefd LLC grew its holdings in shares of Tecnoglass by 4,735.7% during the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after buying an additional 663 shares during the last quarter. X Square Capital LLC grew 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 buying an additional 237 shares during the last quarter. PFG Investments LLC purchased a new stake in shares of Tecnoglass during the second quarter valued at approximately $220,000. Finally, Crossmark Global Holdings Inc. grew its holdings in shares of 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 during the last quarter. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Raymond James cut shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Sidoti cut shares of 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. StockNews.com started coverage on shares of Tecnoglass in a report on Friday, December 6th. They set a “hold” rating on the stock. B. Riley restated a “neutral” rating and issued a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Finally, Robert W. Baird raised their target price on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $77.40.

Insiders Place Their Bets

In other Tecnoglass news, Director Julio A. Torres sold 30,520 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total value of $2,222,771.60. The transaction 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 completion of the transaction, the insider now 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 disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Tecnoglass Trading Down 0.9 %

Shares of TGLS stock opened at $81.84 on Wednesday. Tecnoglass Inc. has a 12-month low of $38.60 and a 12-month high of $84.18. 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’s 50 day moving average is $74.76 and its 200 day moving average is $62.10. The stock has a market capitalization of $3.85 billion, a P/E ratio of 25.57 and a beta of 1.89.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings results 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 business had revenue of $237.90 million for the quarter, compared to the consensus estimate of $240.19 million. During the same period last year, the firm earned $0.98 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. Research analysts expect that Tecnoglass Inc. will post 3.55 earnings per share for the current year.

About Tecnoglass

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.