Tecnoglass (NASDAQ:TGLS) Sees Strong Trading Volume – Here’s What Happened

Tecnoglass Inc. (NASDAQ:TGLS) shares saw strong trading volume on Monday . 247,912 shares traded hands during trading, a decline of 2% from the previous session’s volume of 253,158 shares.The stock last traded at $74.66 and had previously closed at $84.47.

Wall Street Analyst Weigh In

A number of brokerages have commented on TGLS. B. Riley reissued a “neutral” rating and set a $72.00 price objective (up previously from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. DA Davidson raised their price target on shares of Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Raymond James downgraded Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Robert W. Baird increased their price objective on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Sidoti downgraded Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research report on Tuesday, October 22nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tecnoglass currently has an average rating of “Hold” and a consensus price target of $77.40.

Tecnoglass Trading Down 0.3 %

The company’s fifty day simple moving average is $80.51 and its two-hundred day simple moving average is $69.96. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 25.37 and a beta of 1.90. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20.

Tecnoglass (NASDAQ:TGLS) last posted its 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 return on equity of 27.71% and a net margin of 17.82%. The firm had revenue of $237.90 million for the quarter, compared to analyst estimates of $240.19 million. During the same period in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. Research analysts forecast that Tecnoglass Inc. will post 3.55 earnings per share for the current fiscal year.

Tecnoglass Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.76%. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, December 31st. Tecnoglass’s dividend payout ratio is presently 18.75%.

Insider Buying and Selling at Tecnoglass

In other Tecnoglass news, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total value of $104,573,402.40. Following 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Julio A. Torres sold 30,520 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total value of $2,222,771.60. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Institutional Trading of Tecnoglass

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nations Financial Group Inc. IA ADV grew its position in Tecnoglass by 3.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 9,596 shares of the company’s stock valued at $659,000 after purchasing an additional 287 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Tecnoglass during the 4th quarter worth about $26,000. Signaturefd LLC increased its position in shares of Tecnoglass by 4,735.7% in the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after acquiring an additional 663 shares during the last quarter. Amalgamated Bank bought a new stake in Tecnoglass during the second quarter worth about $39,000. Finally, R Squared Ltd bought a new stake in shares of Tecnoglass during the 4th quarter worth approximately $70,000. 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.