Insider Buying: Tecnoglass (NYSE:TGLS) Major Shareholder Purchases $3,280,452.24 in Stock

Tecnoglass Inc. (NYSE:TGLS) major shareholder Holding Corp Energy acquired 80,879 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $40.56 per share, with a total value of $3,280,452.24. Following the acquisition, the insider directly owned 20,812,864 shares of the company’s stock, valued at $844,169,763.84. The trade was a 0.39% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, May 15th, Holding Corp Energy acquired 19,121 shares of Tecnoglass stock. The shares were bought at an average price of $40.27 per share, with a total value of $770,002.67.
• On Friday, March 13th, Holding Corp Energy acquired 107,629 shares of Tecnoglass stock. The shares were bought at an average price of $45.11 per share, with a total value of $4,855,144.19.
• On Thursday, March 12th, Holding Corp Energy acquired 107,600 shares of Tecnoglass stock. The shares were bought at an average price of $45.28 per share, with a total value of $4,872,128.00.
• On Wednesday, March 11th, Holding Corp Energy acquired 92,066 shares of Tecnoglass stock. The shares were bought at an average price of $44.24 per share, with a total value of $4,072,999.84.
• On Tuesday, March 10th, Holding Corp Energy acquired 107,600 shares of Tecnoglass stock. The shares were bought at an average price of $43.41 per share, with a total value of $4,670,916.00.
• On Monday, March 9th, Holding Corp Energy acquired 107,000 shares of Tecnoglass stock. The shares were bought at an average price of $41.06 per share, with a total value of $4,393,420.00.

Tecnoglass Stock Performance

NYSE TGLS opened at $40.98 on Thursday. Tecnoglass Inc. has a 52-week low of $37.52 and a 52-week high of $90.34. The company has a 50-day simple moving average of $42.93 and a 200 day simple moving average of $47.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.77. The company has a market capitalization of $1.82 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 0.65 and a beta of 1.42.

Tecnoglass (NYSE:TGLS) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The business had revenue of $249.01 million during the quarter, compared to the consensus estimate of $243.00 million. Tecnoglass had a net margin of 14.77% and a return on equity of 21.51%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 earnings per share. On average, research analysts predict that Tecnoglass Inc. will post 2.73 EPS for the current year.

Tecnoglass Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st were paid a $0.15 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.5%. Tecnoglass’s dividend payout ratio (DPR) is presently 18.58%.

Institutional Trading of Tecnoglass

Institutional investors and hedge funds have recently bought and sold shares of the company. Citigroup Inc. lifted its position in Tecnoglass by 445.3% during the third quarter. Citigroup Inc. now owns 526,061 shares of the company’s stock valued at $35,199,000 after purchasing an additional 429,590 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Tecnoglass by 9.6% in the 3rd quarter. American Century Companies Inc. now owns 1,022,101 shares of the company’s stock valued at $68,389,000 after purchasing an additional 89,175 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Tecnoglass by 53.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,460 shares of the company’s stock valued at $2,239,000 after purchasing an additional 11,649 shares in the last quarter. Capital World Investors boosted its stake in shares of Tecnoglass by 6.2% in the 3rd quarter. Capital World Investors now owns 1,794,272 shares of the company’s stock valued at $120,055,000 after purchasing an additional 104,132 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Tecnoglass by 3.1% in the 3rd quarter. First Trust Advisors LP now owns 1,026,970 shares of the company’s stock valued at $68,715,000 after purchasing an additional 30,834 shares in the last quarter. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Tecnoglass in a research note on Friday, April 10th. Zacks Research downgraded shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Robert W. Baird reduced their target price on shares of Tecnoglass from $62.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. B. Riley Financial reduced their target price on shares of Tecnoglass from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Finally, DA Davidson reduced their target price on shares of Tecnoglass from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $63.33.

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.