Atria Investments Inc Increases Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

Atria Investments Inc increased its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 43.0% during the third quarter, HoldingsChannel.com reports. The firm owned 7,071 shares of the company’s stock after buying an additional 2,125 shares during the period. Atria Investments Inc’s holdings in Tecnoglass were worth $485,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TGLS. Principal Financial Group Inc. bought a new position in shares of Tecnoglass in the third quarter worth $2,211,000. Impax Asset Management Group plc grew its position in Tecnoglass by 65.0% during the third quarter. Impax Asset Management Group plc now owns 165,000 shares of the company’s stock worth $11,329,000 after buying an additional 65,000 shares in the last quarter. Semanteon Capital Management LP bought a new position in Tecnoglass in the 3rd quarter worth about $1,237,000. X Square Capital LLC raised its holdings in shares of Tecnoglass by 27.1% in the 3rd quarter. X Square Capital LLC now owns 5,545 shares of the company’s stock valued at $381,000 after acquiring an additional 1,182 shares in the last quarter. Finally, Riverwater Partners LLC boosted its position in shares of Tecnoglass by 20.7% during the 3rd quarter. Riverwater Partners LLC now owns 62,664 shares of the company’s stock valued at $4,355,000 after acquiring an additional 10,731 shares during the last quarter. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Stock Up 0.2 %

Shares of NASDAQ:TGLS opened at $75.35 on Thursday. Tecnoglass Inc. has a 12-month low of $33.19 and a 12-month high of $80.51. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The stock’s 50-day moving average price is $71.02 and its 200-day moving average price is $59.45. The stock has a market capitalization of $3.54 billion, a P/E ratio of 23.55 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.08 EPS 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 business had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $240.19 million. During the same period in the previous year, the firm earned $0.98 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. On average, equities analysts anticipate that Tecnoglass Inc. will post 3.55 earnings per share for the current year.

Tecnoglass Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Monday, September 30th. Tecnoglass’s payout ratio is 13.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TGLS shares. DA Davidson raised their target price on shares of Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Sidoti downgraded shares of 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. Stifel Nicolaus increased their target price on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Finally, B. Riley reissued a “neutral” rating and set a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $77.40.

Insider Activity

In other 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 completion of the sale, the insider now directly owns 23,195,988 shares of the company’s stock, valued at approximately $1,693,771,043.76. This trade represents a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Julio A. Torres sold 30,520 shares of the business’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. 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.