Tecnoglass (NASDAQ:TGLS) Sees Large Volume Increase – Here’s What Happened

Tecnoglass Inc. (NASDAQ:TGLS) shares saw an uptick in trading volume on Monday . 247,912 shares changed hands during mid-day trading, a decline of 2% from the previous session’s volume of 253,158 shares.The stock last traded at $74.66 and had previously closed at $84.47.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. DA Davidson boosted 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. Raymond James downgraded Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. B. Riley restated a “neutral” rating and issued a $72.00 price objective (up previously from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Sidoti downgraded 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. Finally, StockNews.com assumed coverage on Tecnoglass in a research note on Saturday, December 14th. They issued a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $77.40.

Tecnoglass Stock Performance

The stock has a 50 day moving average price of $80.51 and a two-hundred day moving average price of $69.96. The company has a market cap of $3.70 billion, a P/E ratio of 25.37 and a beta of 1.90. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20.

Tecnoglass (NASDAQ:TGLS) last posted its earnings results on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $240.19 million. During the same quarter last year, the firm earned $0.98 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. On average, research analysts predict that Tecnoglass Inc. will post 3.55 earnings per share for the current fiscal year.

Tecnoglass Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s dividend payout ratio is presently 18.75%.

Insider Transactions at Tecnoglass

In other Tecnoglass news, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julio A. Torres sold 30,520 shares of the company’s stock in a transaction that occurred 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. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Tecnoglass by 29.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock valued at $134,994,000 after purchasing an additional 447,647 shares in the last quarter. Geode Capital Management LLC boosted its stake in Tecnoglass by 4.8% in the third quarter. Geode Capital Management LLC now owns 500,265 shares of the company’s stock valued at $34,355,000 after buying an additional 22,700 shares in the last quarter. State Street Corp grew its position in Tecnoglass by 29.1% in the third quarter. State Street Corp now owns 416,964 shares of the company’s stock valued at $28,674,000 after acquiring an additional 93,968 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Tecnoglass by 8.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 183,400 shares of the company’s stock worth $12,592,000 after acquiring an additional 13,803 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in shares of Tecnoglass by 65.0% in the third quarter. Impax Asset Management Group plc now owns 165,000 shares of the company’s stock worth $11,329,000 after acquiring an additional 65,000 shares during the last quarter. 37.35% of the stock is currently owned by institutional investors and hedge funds.

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.