Tecnoglass (NASDAQ:TGLS) Reaches New 52-Week High – Here’s Why

Tecnoglass Inc. (NASDAQ:TGLS)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $86.10 and last traded at $86.09, with a volume of 69536 shares traded. The stock had previously closed at $84.05.

Analyst Upgrades and Downgrades

TGLS has been the topic of a number of recent research reports. 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. StockNews.com started coverage on Tecnoglass in a research report on Saturday, December 14th. They issued a “hold” rating for the company. DA Davidson upped their target price on shares of Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Raymond James lowered shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Finally, B. Riley restated a “neutral” rating and issued a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Tecnoglass has a consensus rating of “Hold” and an average target price of $77.40.

Tecnoglass Stock Up 2.5 %

The firm has a market cap of $4.05 billion, a P/E ratio of 26.90 and a beta of 1.90. The firm’s 50 day moving average is $79.38 and its two-hundred day moving average is $68.64. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share 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 company had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $240.19 million. During the same period last year, the firm posted $0.98 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, research analysts anticipate that Tecnoglass Inc. will post 3.55 EPS for the current fiscal 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 given a dividend of $0.15 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.70%. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s dividend payout ratio (DPR) is currently 18.75%.

Insider Activity

In other Tecnoglass news, Director Julio A. Torres sold 30,520 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was 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 Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total transaction 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 approximately $1,693,771,043.76. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of Tecnoglass

Several institutional investors and hedge funds have recently bought and sold shares of TGLS. USA Financial Formulas acquired a new position in Tecnoglass in the 4th quarter valued at about $26,000. Signaturefd LLC lifted its holdings in shares of Tecnoglass by 4,735.7% during the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after acquiring an additional 663 shares during the period. Amalgamated Bank acquired a new position in Tecnoglass during the second quarter valued at approximately $39,000. DGS Capital Management LLC bought a new stake in Tecnoglass during the third quarter worth $204,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Tecnoglass in the 4th quarter valued at $243,000. Institutional investors own 37.35% 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.