Fourth Sail Capital LP Invests $17.46 Million in Tecnoglass Inc. $TGLS

Fourth Sail Capital LP acquired a new position in shares of Tecnoglass Inc. (NYSE:TGLS) in the 4th quarter, HoldingsChannel reports. The fund acquired 346,991 shares of the company’s stock, valued at approximately $17,461,000. Tecnoglass makes up 2.8% of Fourth Sail Capital LP’s holdings, making the stock its 17th largest position.

Other large investors also recently modified their holdings of the company. Arax Advisory Partners grew its position in shares of Tecnoglass by 128.4% during the 4th 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. First Horizon Corp grew its position in shares of Tecnoglass by 63.3% during 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. Caitong International Asset Management Co. Ltd grew its position in shares of 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 period. Empowered Funds LLC acquired a new stake in Tecnoglass in the 4th quarter valued at $49,000. Finally, Covestor Ltd grew its position in Tecnoglass by 36.8% in the 4th quarter. Covestor Ltd now owns 3,122 shares of the company’s stock valued at $157,000 after purchasing an additional 840 shares during the period. Institutional investors and hedge funds own 37.35% of the company’s stock.

Analyst Ratings Changes

TGLS has been the subject of several research reports. Weiss Ratings downgraded shares of Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 20th. Robert W. Baird reduced their price target on shares of Tecnoglass from $62.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. B. Riley Financial reduced their price target on shares of Tecnoglass from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, March 6th. DA Davidson reduced their price target on shares of Tecnoglass from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Finally, Zacks Research downgraded shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Tecnoglass presently has an average rating of “Hold” and an average price target of $63.33.

Insider Activity

In other news, major shareholder Holding Corp Energy bought 19,121 shares of Tecnoglass stock in a transaction dated Friday, May 15th. The stock was purchased at an average price of $40.27 per share, for a total transaction of $770,002.67. Following the purchase, the insider directly owned 20,831,985 shares in the company, valued at $838,904,035.95. The trade was a 0.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by insiders.

Tecnoglass Stock Performance

NYSE TGLS opened at $43.89 on Friday. Tecnoglass Inc. has a 1 year low of $37.52 and a 1 year high of $84.47. 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 firm has a market cap of $1.95 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 0.73 and a beta of 1.42. The company has a fifty day moving average price of $42.78 and a 200-day moving average price of $46.94.

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

Tecnoglass Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.4%. Tecnoglass’s dividend payout ratio is presently 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.