JPMorgan Chase & Co. Buys 1,146 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

JPMorgan Chase & Co. grew its position in Tecnoglass Inc. (NASDAQ:TGLS) by 6.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,237 shares of the company’s stock after purchasing an additional 1,146 shares during the quarter. JPMorgan Chase & Co.’s holdings in Tecnoglass were worth $1,321,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Signaturefd LLC grew its position in shares of Tecnoglass by 4,735.7% in the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after purchasing an additional 663 shares during the last quarter. Amalgamated Bank acquired a new stake in Tecnoglass in the 2nd quarter valued at approximately $39,000. DGS Capital Management LLC bought a new position in Tecnoglass in the 3rd quarter worth approximately $204,000. Wolverine Trading LLC bought a new position in Tecnoglass in the 3rd quarter worth approximately $225,000. Finally, X Square Capital LLC lifted its holdings in shares of Tecnoglass by 27.1% during the third quarter. X Square Capital LLC now owns 5,545 shares of the company’s stock worth $381,000 after buying an additional 1,182 shares during the last quarter. Institutional investors own 37.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com started coverage on shares of Tecnoglass in a report on Saturday, December 14th. They issued a “hold” rating for the company. Sidoti cut shares of 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. Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Robert W. Baird raised their price objective on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, B. Riley reissued a “neutral” rating and set a $72.00 price objective (up previously from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $77.40.

Tecnoglass Stock Down 1.8 %

Shares of Tecnoglass stock opened at $84.57 on Friday. Tecnoglass Inc. has a 52-week low of $40.94 and a 52-week high of $86.99. 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 business’s 50 day simple moving average is $80.34 and its 200 day simple moving average is $69.35. The firm has a market cap of $3.97 billion, a PE ratio of 26.43 and a beta of 1.90.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.11. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The firm had revenue of $237.90 million for the quarter, compared to analyst estimates of $240.19 million. During the same quarter 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, analysts predict that Tecnoglass Inc. will post 3.55 earnings per share for the current fiscal year.

Tecnoglass Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Tecnoglass’s previous quarterly dividend of $0.11. This represents a $0.60 annualized dividend and a yield of 0.71%. Tecnoglass’s dividend payout ratio (DPR) is 18.75%.

Insider Activity

In related news, Director Julio A. Torres sold 30,520 shares of the company’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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass 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 sale, the insider now directly owns 23,195,988 shares in the company, valued at $1,693,771,043.76. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by company 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.