Stifel Financial Corp Cuts Stock Position in Tecnoglass Inc. (NASDAQ:TGLS)

Stifel Financial Corp trimmed its holdings in Tecnoglass Inc. (NASDAQ:TGLS) by 3.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 48,168 shares of the company’s stock after selling 1,957 shares during the period. Stifel Financial Corp’s holdings in Tecnoglass were worth $3,307,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Signaturefd LLC raised its stake in Tecnoglass by 4,735.7% during the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after purchasing an additional 663 shares during the period. Amalgamated Bank purchased a new position in shares of Tecnoglass in the second quarter worth $39,000. X Square Capital LLC boosted its position 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 worth $219,000 after acquiring an additional 237 shares during the last quarter. PFG Investments LLC purchased a new position in Tecnoglass during the second quarter valued at $220,000. Finally, Chesapeake Capital Corp IL purchased a new position in Tecnoglass during the third quarter valued at $455,000. Institutional investors own 37.35% of the company’s stock.

Insider Buying and Selling

In other news, Director Julio A. Torres sold 30,520 shares of the firm’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 document filed with the SEC, which is available through the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the business’s 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 completion of 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 position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TGLS has been the subject of several research reports. Sidoti downgraded shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a report on Tuesday, October 22nd. StockNews.com began coverage on Tecnoglass in a research note on Saturday. They set a “hold” rating for the company. B. Riley reaffirmed a “neutral” rating and issued a $72.00 price objective (up previously from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. DA Davidson increased their target price on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Raymond James cut shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $77.40.

Tecnoglass Stock Down 4.0 %

Shares of TGLS opened at $81.19 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average of $75.97 and a 200 day moving average of $62.98. The company has a market cap of $3.82 billion, a PE ratio of 25.37 and a beta of 1.89. Tecnoglass Inc. has a 52-week low of $40.94 and a 52-week high of $86.08.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.11. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The firm had revenue of $237.90 million during the quarter, compared to analysts’ expectations of $240.19 million. During the same period in the previous year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, sell-side analysts expect that Tecnoglass Inc. will post 3.55 EPS for the current year.

Tecnoglass Increases Dividend

The firm also recently declared 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 represents a $0.60 annualized dividend and a dividend yield of 0.74%. This is an increase from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, December 31st. Tecnoglass’s dividend payout ratio is presently 18.75%.

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.