Barclays PLC Has $2.43 Million Position in Tecnoglass Inc. (NASDAQ:TGLS)

Barclays PLC grew its holdings in Tecnoglass Inc. (NASDAQ:TGLS) by 32.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,376 shares of the company’s stock after buying an additional 8,613 shares during the quarter. Barclays PLC owned 0.08% of Tecnoglass worth $2,429,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TGLS. Wellington Management Group LLP raised its position in Tecnoglass by 29.5% in the third quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock worth $134,994,000 after purchasing an additional 447,647 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Tecnoglass by 8.7% in the 2nd quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock worth $88,060,000 after buying an additional 140,112 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Tecnoglass by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after buying an additional 96,602 shares during the period. State Street Corp boosted its stake in Tecnoglass by 29.1% in the 3rd quarter. State Street Corp now owns 416,964 shares of the company’s stock valued at $28,674,000 after buying an additional 93,968 shares in the last quarter. Finally, Ensign Peak Advisors Inc grew its position 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 acquiring an additional 149,933 shares during the period. 37.35% of the stock is owned by institutional investors.

Insider Activity at Tecnoglass

In other news, Director Julio A. Torres sold 30,520 shares of the stock in a transaction 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 SEC, which is accessible through the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’s stock in a transaction on 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 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 disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Robert W. Baird lifted their price objective on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, November 8th. DA Davidson upped their price objective 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. Sidoti cut shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research note on Tuesday, October 22nd. StockNews.com assumed coverage on Tecnoglass in a research report on Saturday, December 14th. They set a “hold” rating on the stock. Finally, B. Riley reiterated a “neutral” rating and issued a $72.00 price objective (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $77.40.

Tecnoglass Stock Performance

TGLS stock opened at $81.72 on Thursday. The stock has a market capitalization of $3.84 billion, a PE ratio of 25.54 and a beta of 1.90. 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 company has a 50 day moving average price of $76.72 and a 200 day moving average price of $64.28. Tecnoglass Inc. has a fifty-two week low of $40.94 and a fifty-two week high of $86.08.

Tecnoglass (NASDAQ:TGLS) last issued 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 business had revenue of $237.90 million for the quarter, compared to analyst estimates of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Analysts forecast that Tecnoglass Inc. will post 3.55 EPS for the current 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. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.73%. Tecnoglass’s payout ratio is currently 18.75%.

Tecnoglass 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.