State Street Corp Boosts Stock Position in Tecnoglass Inc. (NASDAQ:TGLS)

State Street Corp lifted its position in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 29.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 416,964 shares of the company’s stock after buying an additional 93,968 shares during the period. State Street Corp owned about 0.89% of Tecnoglass worth $28,674,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Crossmark Global Holdings Inc. grew its position in Tecnoglass by 3.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock worth $355,000 after acquiring an additional 220 shares during the last quarter. X Square Capital LLC boosted its position 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 valued at $219,000 after purchasing an additional 237 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in Tecnoglass by 3.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 9,596 shares of the company’s stock worth $659,000 after acquiring an additional 287 shares in the last quarter. Signaturefd LLC boosted its position in shares of Tecnoglass by 4,735.7% in the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after purchasing an additional 663 shares in the last quarter. Finally, Amalgamated Bank bought a new position in Tecnoglass in the 2nd quarter worth about $39,000. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Trading Up 1.0 %

Tecnoglass stock opened at $80.06 on Friday. The business has a 50-day simple moving average of $76.52 and a two-hundred day simple moving average of $63.69. Tecnoglass Inc. has a 52-week low of $40.94 and a 52-week high of $86.08. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The company has a market cap of $3.76 billion, a P/E ratio of 25.02 and a beta of 1.89.

Tecnoglass (NASDAQ:TGLS) last announced its earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.11. The business had revenue of $237.90 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the company earned $0.98 earnings per share. Analysts predict that Tecnoglass Inc. will post 3.55 EPS for the current year.

Tecnoglass Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.15 dividend. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a yield of 0.75%. Tecnoglass’s dividend payout ratio is presently 18.75%.

Insider Transactions at Tecnoglass

In related news, Director Julio A. Torres sold 30,520 shares of Tecnoglass stock in a transaction 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 available at the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the 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 sale, the insider now owns 23,195,988 shares of the company’s stock, valued at $1,693,771,043.76. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TGLS. StockNews.com started coverage on Tecnoglass in a research report on Saturday, December 14th. They issued a “hold” rating on the stock. DA Davidson upped their price target on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. B. Riley reiterated 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. Raymond James cut shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Sidoti downgraded shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a report on Tuesday, October 22nd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $77.40.

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.