Tecnoglass (NASDAQ:TGLS) Trading Down 4% – Here’s Why

Tecnoglass Inc. (NASDAQ:TGLS)’s share price dropped 4% during mid-day trading on Friday . The stock traded as low as $75.71 and last traded at $75.71. 85,591 shares traded hands during trading, a decline of 50% from the average session volume of 169,884 shares. The stock had previously closed at $78.89.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TGLS shares. Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a report on Tuesday, October 22nd. Raymond James cut 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 target price (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Robert W. Baird lifted their price target on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, DA Davidson upped their price objective 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. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $77.40.

Tecnoglass Stock Down 3.1 %

The firm has a fifty day simple moving average of $77.85 and a 200 day simple moving average of $65.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. The company has a market cap of $3.59 billion, a PE ratio of 23.89 and a beta of 1.90.

Tecnoglass (NASDAQ:TGLS) last released its earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.11. The firm had revenue of $237.90 million during the quarter, compared to the consensus estimate of $240.19 million. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. Tecnoglass’s revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. Equities research analysts predict that Tecnoglass Inc. will post 3.55 EPS for the current year.

Tecnoglass Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.15 dividend. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. This represents a $0.60 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Tuesday, December 31st. Tecnoglass’s dividend payout ratio (DPR) is 18.75%.

Insider Buying and Selling at Tecnoglass

In related news, 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 transaction 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 represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julio A. Torres sold 30,520 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total value of $2,222,771.60. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tecnoglass

Institutional investors and hedge funds have recently modified their holdings of the stock. X Square Capital LLC raised its holdings in shares of Tecnoglass by 5.7% during the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after buying an additional 237 shares during the period. Nations Financial Group Inc. IA ADV raised its stake in shares of Tecnoglass by 3.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 9,596 shares of the company’s stock valued at $659,000 after purchasing an additional 287 shares during the period. Signaturefd LLC lifted its position in shares of Tecnoglass by 4,735.7% during the third 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. Amalgamated Bank purchased a new position in shares of Tecnoglass in the second quarter valued at $39,000. Finally, JPMorgan Chase & Co. grew its holdings in Tecnoglass by 6.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 19,237 shares of the company’s stock valued at $1,321,000 after purchasing an additional 1,146 shares in the last quarter. Hedge funds and other institutional investors own 37.35% 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.