Wolverine Trading LLC Buys Shares of 3,265 Tecnoglass Inc. (NASDAQ:TGLS)

Wolverine Trading LLC purchased a new position in Tecnoglass Inc. (NASDAQ:TGLS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,265 shares of the company’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ensign Peak Advisors Inc raised its stake in Tecnoglass by 219.7% during the second quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after acquiring an additional 149,933 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of Tecnoglass by 8.7% in the 2nd quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock worth $88,060,000 after purchasing an additional 140,112 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Tecnoglass by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock valued at $44,385,000 after purchasing an additional 96,602 shares during the period. State Street Corp grew its stake in Tecnoglass by 29.1% during the 3rd quarter. State Street Corp now owns 416,964 shares of the company’s stock worth $28,674,000 after buying an additional 93,968 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Tecnoglass in the second quarter worth $3,929,000. 37.35% of the stock is owned by institutional investors and hedge funds.

Tecnoglass Trading Down 1.1 %

Tecnoglass stock opened at $83.72 on Monday. Tecnoglass Inc. has a 12-month low of $40.49 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 stock has a market capitalization of $3.93 billion, a PE ratio of 26.16 and a beta of 1.89. The firm has a 50 day simple moving average of $75.66 and a 200-day simple moving average of $62.75.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.11. The company had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the firm earned $0.98 EPS. As a group, equities research 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. Shareholders of record on Tuesday, December 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.72%. This is an increase from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, December 31st. Tecnoglass’s dividend payout ratio is presently 13.75%.

Wall Street Analyst Weigh In

TGLS has been the subject of several recent research reports. Robert W. Baird upped their price target on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. DA Davidson upped 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. They set a “hold” rating on the stock. Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Finally, B. Riley reaffirmed a “neutral” rating and set a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $77.40.

Insider Activity

In other news, Director Julio A. Torres sold 30,520 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 23,195,988 shares of the company’s stock, valued at approximately $1,693,771,043.76. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

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.