Sanctuary Advisors LLC Acquires New Position in Tecnoglass Inc. (NASDAQ:TGLS)

Sanctuary Advisors LLC bought a new position in Tecnoglass Inc. (NASDAQ:TGLS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 35,357 shares of the company’s stock, valued at approximately $1,964,000. Sanctuary Advisors LLC owned about 0.08% of Tecnoglass as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company bought a new stake in shares of Tecnoglass in the 2nd quarter worth approximately $589,000. Dark Forest Capital Management LP increased its position in Tecnoglass by 28.6% in the second quarter. Dark Forest Capital Management LP now owns 12,542 shares of the company’s stock worth $629,000 after buying an additional 2,789 shares during the period. Ensign Peak Advisors Inc lifted its stake in Tecnoglass by 219.7% in the second quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock valued at $10,949,000 after buying an additional 149,933 shares during the last quarter. Amalgamated Bank bought a new position in shares of Tecnoglass during the second quarter worth about $39,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Tecnoglass by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after acquiring an additional 96,602 shares during the period. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Robert W. Baird boosted their target price on shares of Tecnoglass from $68.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. B. Riley lowered Tecnoglass from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $60.00 to $69.00 in a report on Monday, September 23rd. Stifel Nicolaus lifted their target price on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Sidoti raised Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Wednesday, June 26th. Finally, DA Davidson lifted their price objective on shares of Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.67.

Tecnoglass Stock Performance

Shares of NASDAQ TGLS opened at $72.00 on Wednesday. Tecnoglass Inc. has a 1 year low of $28.21 and a 1 year high of $72.60. The firm has a market cap of $3.38 billion, a P/E ratio of 20.75 and a beta of 1.86. The stock has a fifty day moving average price of $61.76 and a two-hundred day moving average price of $55.59. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.43.

Tecnoglass (NASDAQ:TGLS) last announced its earnings results on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The business had revenue of $219.65 million during the quarter, compared to analysts’ expectations of $219.29 million. During the same quarter last year, the business posted $1.12 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. Research analysts forecast that Tecnoglass Inc. will post 3.42 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Monday, September 30th. Tecnoglass’s dividend payout ratio is presently 12.68%.

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.