State Street Corp Grows Position in Tecnoglass Inc. (NASDAQ:TGLS)

State Street Corp boosted its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 29.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 416,964 shares of the company’s stock after buying an additional 93,968 shares during the period. State Street Corp’s holdings in Tecnoglass were worth $28,674,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. William Blair Investment Management LLC boosted its stake in Tecnoglass by 8.7% during the second quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock valued at $88,060,000 after buying an additional 140,112 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Tecnoglass by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock valued at $44,385,000 after purchasing an additional 96,602 shares in the last quarter. Ensign Peak Advisors Inc increased its position in Tecnoglass by 219.7% in the second quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after purchasing an additional 149,933 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Tecnoglass by 8.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 183,400 shares of the company’s stock valued at $12,592,000 after purchasing an additional 13,803 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its position in Tecnoglass by 65.0% during the third quarter. Impax Asset Management Group plc now owns 165,000 shares of the company’s stock valued at $11,329,000 after purchasing an additional 65,000 shares during the last quarter. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Stock Up 1.0 %

Shares of TGLS opened at $80.06 on Friday. The firm has a fifty day moving average price of $76.52 and a 200-day moving average price of $63.69. 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 capitalization of $3.76 billion, a P/E ratio of 25.02 and a beta of 1.89. Tecnoglass Inc. has a 12-month low of $40.94 and a 12-month high of $86.08.

Tecnoglass (NASDAQ:TGLS) last issued its 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. 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 company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 EPS. Equities research analysts expect that Tecnoglass Inc. will post 3.55 earnings per share for the current year.

Tecnoglass Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.15 per share. 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 dividend on an annualized basis and a dividend yield of 0.75%. Tecnoglass’s dividend payout ratio is presently 18.75%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Sidoti downgraded shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a report on Tuesday, October 22nd. Robert W. Baird lifted their target price on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. StockNews.com started coverage on Tecnoglass in a research report on Saturday, December 14th. They issued a “hold” rating for the company. Finally, B. Riley reiterated a “neutral” rating and set a $72.00 price objective (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $77.40.

Insider Activity

In other news, Director Julio A. Torres sold 30,520 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this link. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass 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 directly owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

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.