Intech Investment Management LLC Makes New Investment in Tecnoglass Inc. (NASDAQ:TGLS)

Intech Investment Management LLC acquired a new position in shares of Tecnoglass Inc. (NASDAQ:TGLS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,413 shares of the company’s stock, valued at approximately $509,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amalgamated Bank purchased a new stake in shares of Tecnoglass in the second quarter valued at about $39,000. Signaturefd LLC raised its holdings in shares of 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 acquiring an additional 663 shares in the last quarter. X Square Capital LLC grew its holdings in shares of Tecnoglass by 5.7% during the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after purchasing an additional 237 shares in the last quarter. PFG Investments LLC purchased a new stake in Tecnoglass in the second quarter valued at approximately $220,000. Finally, Tidal Investments LLC purchased a new position in Tecnoglass in the 1st quarter worth approximately $245,000. Institutional investors own 37.35% of the company’s stock.

Insider Activity

In other news, Director Julio A. Torres sold 30,520 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total transaction of $2,222,771.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’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 transaction of $104,573,402.40. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Tecnoglass Price Performance

Shares of NASDAQ TGLS opened at $81.05 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. Tecnoglass Inc. has a 1 year low of $33.90 and a 1 year high of $82.68. The company’s 50-day moving average is $72.77 and its 200 day moving average is $60.78. The stock has a market capitalization of $3.81 billion, a P/E ratio of 25.33 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly 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 company had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $240.19 million. During the same period in the prior year, the firm earned $0.98 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, sell-side analysts expect that Tecnoglass Inc. will post 3.55 earnings per share for the current year.

Tecnoglass Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Monday, September 30th. Tecnoglass’s dividend payout ratio is 13.75%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TGLS. Robert W. Baird lifted their price objective on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a report on Tuesday, October 22nd. StockNews.com assumed coverage on Tecnoglass in a research report on Thursday. They issued a “hold” rating for the company. Raymond James cut shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Finally, DA Davidson lifted their target price 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. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.40.

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.