Insider Buying: Tecnoglass (NYSE:TGLS) Major Shareholder Buys $4,670,916.00 in Stock

Tecnoglass Inc. (NYSE:TGLS) major shareholder Holding Corp Energy bought 107,600 shares of Tecnoglass stock in a transaction on Tuesday, March 10th. The shares were acquired at an average price of $43.41 per share, for a total transaction of $4,670,916.00. Following the completion of the acquisition, the insider owned 20,424,690 shares in the company, valued at $886,635,792.90. This represents a 0.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Holding Corp Energy also recently made the following trade(s):

• On Wednesday, March 11th, Holding Corp Energy acquired 92,066 shares of Tecnoglass stock. The shares were bought at an average cost of $44.24 per share, for a total transaction of $4,072,999.84.
• On Monday, March 9th, Holding Corp Energy acquired 107,000 shares of Tecnoglass stock. The stock was bought at an average price of $41.06 per share, for a total transaction of $4,393,420.00.

Tecnoglass Stock Up 2.0%

Shares of NYSE TGLS opened at $45.68 on Friday. The stock has a market cap of $2.04 billion, a P/E ratio of 13.36, a PEG ratio of 0.56 and a beta of 1.72. The business’s fifty day simple moving average is $49.74 and its 200-day simple moving average is $55.68. Tecnoglass Inc. has a 12-month low of $40.09 and a 12-month high of $90.34. The company has a current ratio of 1.86, a quick ratio of 1.25 and a debt-to-equity ratio of 0.24.

Tecnoglass (NYSE:TGLS) last released its earnings results on Thursday, February 26th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.21). Tecnoglass had a return on equity of 23.05% and a net margin of 16.22%.The company had revenue of $245.30 million for the quarter. During the same period last year, the firm earned $1.05 earnings per share. Tecnoglass’s quarterly revenue was up 3.0% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TGLS. Zacks Research lowered shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Tecnoglass in a report on Monday, December 22nd. DA Davidson dropped their price objective on shares of Tecnoglass from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Finally, B. Riley Financial reduced their price objective on shares of Tecnoglass from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $67.50.

Institutional Investors Weigh In On Tecnoglass

A number of institutional investors and hedge funds have recently bought and sold shares of TGLS. First Horizon Corp acquired a new position in Tecnoglass in the third quarter valued at $28,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Tecnoglass during the fourth quarter worth about $28,000. Arax Advisory Partners lifted its holdings in shares of Tecnoglass by 128.4% in the 4th quarter. Arax Advisory Partners now owns 596 shares of the company’s stock valued at $30,000 after purchasing an additional 335 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Tecnoglass by 290.2% in the 3rd quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock valued at $40,000 after purchasing an additional 444 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Tecnoglass by 223.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock valued at $43,000 after purchasing an additional 440 shares during the period. 37.35% of the stock is owned by hedge funds and other institutional investors.

About Tecnoglass

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.