Calamos Advisors LLC Lowers Stock Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

Calamos Advisors LLC reduced its position in Tecnoglass Inc. (NASDAQ:TGLS) by 37.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,266 shares of the company’s stock after selling 9,091 shares during the quarter. Calamos Advisors LLC’s holdings in Tecnoglass were worth $1,211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in Tecnoglass by 29.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock worth $134,994,000 after buying an additional 447,647 shares during the last quarter. State Street Corp lifted its holdings in shares of Tecnoglass by 29.1% in the 3rd quarter. State Street Corp now owns 416,964 shares of the company’s stock worth $28,674,000 after acquiring an additional 93,968 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Tecnoglass by 65.0% in the 3rd quarter. Impax Asset Management Group plc now owns 165,000 shares of the company’s stock worth $11,329,000 after acquiring an additional 65,000 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of Tecnoglass by 262.5% in the 3rd quarter. Verition Fund Management LLC now owns 48,894 shares of the company’s stock valued at $3,357,000 after purchasing an additional 35,406 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Tecnoglass during the 2nd quarter valued at $1,964,000. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Tecnoglass 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 value of $2,222,771.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’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 transaction, the insider now owns 23,195,988 shares of the company’s stock, valued at $1,693,771,043.76. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Tecnoglass Price Performance

TGLS opened at $75.86 on Wednesday. The stock’s 50 day moving average price is $80.30 and its 200-day moving average price is $70.77. Tecnoglass Inc. has a 52-week low of $40.94 and a 52-week high of $86.99. The stock has a market capitalization of $3.56 billion, a PE ratio of 23.71 and a beta of 1.88. 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 (NASDAQ:TGLS) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.97 by $0.11. The business had revenue of $237.90 million during the quarter, compared to analyst estimates of $240.19 million. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. On average, equities research analysts predict that Tecnoglass Inc. will post 3.55 EPS for the current year.

Tecnoglass Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.60 annualized dividend and a yield of 0.79%. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s dividend payout ratio (DPR) is currently 18.75%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TGLS. Sidoti downgraded shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a research note on Tuesday, October 22nd. StockNews.com began coverage on Tecnoglass in a research note on Saturday, December 14th. They issued a “hold” rating for the company. DA Davidson raised their price target on Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Robert W. Baird lifted their price target on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note 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 research note on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $77.40.

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.