Principal Financial Group Inc. Invests $2.21 Million in Tecnoglass Inc. (NASDAQ:TGLS)

Principal Financial Group Inc. purchased a new stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 32,208 shares of the company’s stock, valued at approximately $2,211,000. Principal Financial Group Inc. owned approximately 0.07% of Tecnoglass at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. increased its position in Tecnoglass by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock valued at $355,000 after acquiring an additional 220 shares in the last quarter. X Square Capital LLC increased its holdings in shares of Tecnoglass by 5.7% in the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after purchasing an additional 237 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Tecnoglass by 2.2% in the second quarter. SummerHaven Investment Management LLC now owns 13,681 shares of the company’s stock valued at $687,000 after purchasing an additional 292 shares in the last quarter. Signaturefd LLC boosted its position in Tecnoglass by 4,735.7% in the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after buying an additional 663 shares during the last quarter. Finally, Amalgamated Bank bought a new stake in shares of Tecnoglass during the second quarter worth $39,000. Institutional investors own 37.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on TGLS shares. Robert W. Baird lifted their price objective on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. DA Davidson boosted their price target on shares of Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. 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. Stifel Nicolaus lifted their target price on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Sidoti downgraded Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research note on Tuesday, October 22nd. Four 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, the company has a consensus rating of “Hold” and an average price target of $77.40.

Tecnoglass Stock Up 1.9 %

Tecnoglass stock opened at $79.34 on Friday. Tecnoglass Inc. has a fifty-two week low of $33.90 and a fifty-two week high of $80.51. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 24.72 and a beta of 1.86. The company’s 50 day simple moving average is $71.29 and its 200 day simple moving average is $59.57.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.11. The company had revenue of $237.90 million during the quarter, compared to analyst estimates of $240.19 million. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The firm’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. As a group, sell-side analysts anticipate that Tecnoglass Inc. will post 3.55 EPS for the current year.

Tecnoglass Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.11 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.55%. Tecnoglass’s dividend payout ratio (DPR) is currently 13.75%.

Insider Transactions at Tecnoglass

In other news, major shareholder Holding Corp Energy sold 1,432,120 shares of the company’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 transaction, the insider now owns 23,195,988 shares in the company, valued at $1,693,771,043.76. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julio A. Torres sold 30,520 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total transaction of $2,222,771.60. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

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.