Weiss Asset Management LP Purchases Shares of 37,175 Tecnoglass Inc. $TGLS

Weiss Asset Management LP acquired a new stake in Tecnoglass Inc. (NYSE:TGLS) during the first quarter, Holdings Channel reports. The institutional investor acquired 37,175 shares of the company’s stock, valued at approximately $1,656,000.

A number of other hedge funds have also modified their holdings of TGLS. Kemnay Advisory Services Inc. acquired a new stake in shares of Tecnoglass during the fourth quarter worth about $28,000. Arax Advisory Partners boosted its position in Tecnoglass by 128.4% in the fourth quarter. Arax Advisory Partners now owns 596 shares of the company’s stock valued at $30,000 after buying an additional 335 shares during the last quarter. First Horizon Corp increased its holdings in Tecnoglass by 63.3% in the 4th quarter. First Horizon Corp now owns 673 shares of the company’s stock worth $34,000 after buying an additional 261 shares during the period. Parallel Advisors LLC increased its holdings in Tecnoglass by 444.0% in the 1st quarter. Parallel Advisors LLC now owns 952 shares of the company’s stock worth $42,000 after buying an additional 777 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in Tecnoglass by 223.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock worth $43,000 after buying an additional 440 shares during the last quarter. 37.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tecnoglass

In other news, major shareholder Holding Corp Energy acquired 19,121 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were acquired at an average price of $40.27 per share, with a total value of $770,002.67. Following the purchase, the insider directly owned 20,831,985 shares of the company’s stock, valued at $838,904,035.95. This trade 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 this hyperlink. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on TGLS. Weiss Ratings cut shares of Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 20th. Robert W. Baird cut their price objective on shares of Tecnoglass from $62.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 21st. Finally, Zacks Research raised shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Tecnoglass presently has an average rating of “Moderate Buy” and an average target price of $63.33.

Tecnoglass Stock Performance

Shares of TGLS stock opened at $45.26 on Monday. Tecnoglass Inc. has a 52-week low of $37.52 and a 52-week high of $83.32. The company has a quick ratio of 1.15, a current ratio of 1.77 and a debt-to-equity ratio of 0.26. The stock has a market cap of $2.01 billion, a PE ratio of 14.01 and a beta of 1.41. The business has a 50-day simple moving average of $44.01 and a 200-day simple moving average of $45.67.

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

Tecnoglass Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, June 30th. Tecnoglass’s dividend payout ratio is currently 18.58%.

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.