Connors Investor Services Inc. Makes New $2.07 Million Investment in Tecnoglass Inc. $TGLS

Connors Investor Services Inc. bought a new position in Tecnoglass Inc. (NYSE:TGLS) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 41,215 shares of the company’s stock, valued at approximately $2,074,000.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Tecnoglass by 53.4% during the third quarter. JPMorgan Chase & Co. now owns 33,460 shares of the company’s stock worth $2,239,000 after acquiring an additional 11,649 shares during the last quarter. Citigroup Inc. grew its stake in shares of Tecnoglass by 445.3% during the third quarter. Citigroup Inc. now owns 526,061 shares of the company’s stock worth $35,199,000 after acquiring an additional 429,590 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Tecnoglass by 9.6% during the third quarter. American Century Companies Inc. now owns 1,022,101 shares of the company’s stock worth $68,389,000 after acquiring an additional 89,175 shares during the last quarter. Capital World Investors grew its stake in shares of Tecnoglass by 6.2% during the third quarter. Capital World Investors now owns 1,794,272 shares of the company’s stock worth $120,055,000 after acquiring an additional 104,132 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Tecnoglass by 3.1% during the third quarter. First Trust Advisors LP now owns 1,026,970 shares of the company’s stock worth $68,715,000 after acquiring an additional 30,834 shares during the last quarter. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Price Performance

Shares of NYSE TGLS opened at $41.06 on Friday. The business’s 50 day moving average price is $42.83 and its 200 day moving average price is $47.57. The firm has a market cap of $1.82 billion, a P/E ratio of 12.71, a P/E/G ratio of 0.68 and a beta of 1.42. Tecnoglass Inc. has a 52 week low of $37.52 and a 52 week high of $90.34. The company has a quick ratio of 1.15, a current ratio of 1.77 and a debt-to-equity ratio of 0.26.

Tecnoglass (NYSE:TGLS) last issued its earnings results on Friday, May 8th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The firm had revenue of $249.01 million for the quarter, compared to analyst estimates of $243.00 million. Tecnoglass had a return on equity of 21.51% and a net margin of 14.77%.Tecnoglass’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. On average, sell-side analysts expect that Tecnoglass Inc. will post 2.73 earnings per share for the current year.

Tecnoglass Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Tuesday, March 31st were given a $0.15 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.5%. Tecnoglass’s dividend payout ratio is currently 18.58%.

Insider Buying and Selling

In other news, major shareholder Holding Corp Energy bought 19,121 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average price of $40.27 per share, for a total transaction of $770,002.67. Following the completion of the transaction, the insider directly owned 20,831,985 shares in the company, valued at approximately $838,904,035.95. This represents a 0.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Anne Louise Carricarte bought 1,100 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average price of $43.27 per share, for a total transaction of $47,597.00. Following the transaction, the director owned 1,100 shares of the company’s stock, valued at $47,597. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 622,995 shares of company stock worth $26,962,660. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Robert W. Baird dropped their price target on Tecnoglass from $62.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 21st. B. Riley Financial dropped their price target on Tecnoglass from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. DA Davidson dropped their price target on Tecnoglass from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Weiss Ratings lowered Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday. Finally, Zacks Research lowered Tecnoglass from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.33.

Tecnoglass Profile

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.