Tecnoglass Inc. $TGLS Stock Holdings Trimmed by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in Tecnoglass Inc. (NYSE:TGLS) by 69.1% in the first quarter, Holdings Channel.com reports. The fund owned 5,866 shares of the company’s stock after selling 13,095 shares during the period. SG Americas Securities LLC’s holdings in Tecnoglass were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of Tecnoglass by 8.3% in the 1st quarter. Royal Bank of Canada now owns 3,121 shares of the company’s stock valued at $224,000 after buying an additional 238 shares during the period. Blue Chip Partners LLC raised its position in shares of Tecnoglass by 6.2% during the 4th quarter. Blue Chip Partners LLC now owns 4,250 shares of the company’s stock worth $214,000 after purchasing an additional 250 shares during the period. First Horizon Corp lifted its holdings in shares of Tecnoglass by 63.3% in the 4th quarter. First Horizon Corp now owns 673 shares of the company’s stock worth $34,000 after purchasing an additional 261 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Tecnoglass by 2.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 12,459 shares of the company’s stock worth $627,000 after buying an additional 295 shares during the last quarter. Finally, Arax Advisory Partners increased its position in Tecnoglass by 128.4% in the fourth quarter. Arax Advisory Partners now owns 596 shares of the company’s stock worth $30,000 after buying an additional 335 shares during the period. Institutional investors and hedge funds own 37.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TGLS shares. Zacks Research upgraded shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a research report on Friday, June 12th. Robert W. Baird reduced their price objective on Tecnoglass from $62.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. Finally, Weiss Ratings lowered Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 20th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Tecnoglass currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.33.

Tecnoglass Stock Performance

Tecnoglass stock opened at $43.94 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.15. The company’s 50-day moving average price is $43.12 and its two-hundred day moving average price is $46.14. Tecnoglass Inc. has a 52 week low of $37.52 and a 52 week high of $83.32.

Tecnoglass (NYSE:TGLS) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Tecnoglass had a net margin of 14.77% and a return on equity of 21.51%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 EPS. As a group, analysts expect that Tecnoglass Inc. will post 2.73 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.15 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.4%. Tecnoglass’s dividend payout ratio (DPR) is 18.58%.

Insider Buying and Selling at Tecnoglass

In related news, major shareholder Holding Corp Energy purchased 80,879 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price of $40.56 per share, with a total value of $3,280,452.24. Following the purchase, the insider owned 20,812,864 shares of the company’s stock, valued at $844,169,763.84. This trade represents a 0.39% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

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.