Captrust Financial Advisors Reduces Stake in Tecnoglass Inc. (NASDAQ:TGLS)

Captrust Financial Advisors cut its holdings in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 65.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,320 shares of the company’s stock after selling 8,365 shares during the quarter. Captrust Financial Advisors’ holdings in Tecnoglass were worth $297,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TGLS. Principal Financial Group Inc. purchased a new position in Tecnoglass during the 3rd quarter valued at $2,211,000. Rhumbline Advisers purchased a new position in shares of Tecnoglass during the second quarter valued at about $1,468,000. The Manufacturers Life Insurance Company bought a new position in Tecnoglass in the second quarter worth about $589,000. GSA Capital Partners LLP lifted its holdings in Tecnoglass by 262.4% in the third quarter. GSA Capital Partners LLP now owns 20,089 shares of the company’s stock worth $1,379,000 after buying an additional 14,545 shares during the period. Finally, Semanteon Capital Management LP bought a new stake in Tecnoglass during the 3rd quarter valued at approximately $1,237,000. Institutional investors own 37.35% of the company’s stock.

Analysts Set New Price Targets

TGLS has been the subject of a number of research analyst reports. StockNews.com initiated coverage on Tecnoglass in a research note on Saturday. They issued a “hold” rating for the company. B. Riley reaffirmed a “neutral” rating and issued a $72.00 target price (up from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Raymond James lowered shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Sidoti cut shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a report on Tuesday, October 22nd. Finally, DA Davidson lifted their target price on shares of Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tecnoglass presently has a consensus rating of “Hold” and an average target price of $77.40.

Tecnoglass Stock Performance

Shares of TGLS stock opened at $83.72 on Friday. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 26.16 and a beta of 1.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. Tecnoglass Inc. has a one year low of $40.49 and a one year high of $86.08. The company’s 50-day moving average is $75.66 and its 200 day moving average is $62.67.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly 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. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The firm had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $240.19 million. During the same quarter in the prior year, the company posted $0.98 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. Sell-side analysts expect that Tecnoglass Inc. will post 3.55 EPS for the current fiscal 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 paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.72%. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s payout ratio is currently 13.75%.

Insider Activity at Tecnoglass

In related news, major shareholder Holding Corp Energy sold 1,432,120 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julio A. Torres sold 30,520 shares of Tecnoglass 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. 0.25% of the stock is currently owned by insiders.

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.