Tecnoglass Inc. (NASDAQ:TGLS) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its position in Tecnoglass Inc. (NASDAQ:TGLS) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 500,265 shares of the company’s stock after purchasing an additional 22,700 shares during the quarter. Geode Capital Management LLC owned 1.06% of Tecnoglass worth $34,355,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC grew its stake in shares of Tecnoglass by 4,735.7% during the third 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. Amalgamated Bank acquired a new stake in shares of Tecnoglass during the second quarter worth approximately $39,000. Wolverine Trading LLC bought a new stake in shares of Tecnoglass in the third quarter worth $225,000. X Square Capital LLC raised its holdings in 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 acquiring an additional 237 shares in the last quarter. Finally, PFG Investments LLC bought a new position in Tecnoglass during the 2nd quarter valued at $220,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Tecnoglass Trading Up 2.3 %

NASDAQ:TGLS opened at $81.72 on Thursday. Tecnoglass Inc. has a 12-month low of $40.94 and a 12-month high of $86.08. 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 business has a 50 day simple moving average of $76.72 and a 200 day simple moving average of $64.28. The firm has a market capitalization of $3.84 billion, a P/E ratio of 25.54 and a beta of 1.90.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.97 by $0.11. The business 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 company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Equities research analysts predict 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 issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Tuesday, December 31st. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s payout ratio is 18.75%.

Wall Street Analyst Weigh In

TGLS has been the subject of several research analyst reports. DA Davidson boosted their target price on shares of Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. StockNews.com assumed coverage on Tecnoglass in a report on Saturday, December 14th. They set a “hold” rating on the stock. Robert W. Baird boosted their price target on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Sidoti lowered 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. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Tecnoglass presently has an average rating of “Hold” and an average target price of $77.40.

Insider Buying and Selling

In related news, major shareholder Holding Corp Energy sold 1,432,120 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 23,195,988 shares of the company’s stock, 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 document filed with the SEC, which is available through the SEC website. Also, Director Julio A. Torres sold 30,520 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were 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. Corporate insiders own 0.25% 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.