Tecnoglass (NYSE:TGLS) Reaches New 52-Week Low – Here’s What Happened

Tecnoglass Inc. (NYSE:TGLS)’s share price reached a new 52-week low on Monday . The stock traded as low as $35.58 and last traded at $35.95, with a volume of 424565 shares trading hands. The stock had previously closed at $35.77.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Zacks Research raised Tecnoglass from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. Weiss Ratings lowered Tecnoglass from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.33.

Tecnoglass Trading Up 1.4%

The firm has a market capitalization of $1.61 billion and a PE ratio of 12.77. The company has a quick ratio of 1.17, a current ratio of 1.86 and a debt-to-equity ratio of 0.28. The company’s 50-day simple moving average is $41.92 and its 200 day simple moving average is $42.90.

Tecnoglass (NYSE:TGLS) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $295.29 million for the quarter. Tecnoglass had a net margin of 12.35% and a return on equity of 17.84%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 EPS. As a group, sell-side analysts expect that Tecnoglass Inc. will post 2.57 EPS for the current year.

Tecnoglass Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, September 30th. Tecnoglass’s dividend payout ratio (DPR) is 21.13%.

Hedge Funds Weigh In On Tecnoglass

A number of large investors have recently made changes to their positions in TGLS. AXQ Capital LP purchased a new position in Tecnoglass during the 2nd quarter worth $301,000. Parallel Advisors LLC raised its stake in Tecnoglass by 444.0% in the first quarter. Parallel Advisors LLC now owns 952 shares of the company’s stock valued at $42,000 after buying an additional 777 shares during the last quarter. Bank of America Corp DE raised its stake in Tecnoglass by 9.1% in the first quarter. Bank of America Corp DE now owns 162,777 shares of the company’s stock valued at $7,252,000 after buying an additional 13,516 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Tecnoglass by 30.9% in the first quarter. Quantinno Capital Management LP now owns 12,743 shares of the company’s stock worth $568,000 after acquiring an additional 3,009 shares in the last quarter. Finally, SummitTX Capital L.P. acquired a new stake in Tecnoglass in the first quarter worth about $496,000. 37.35% of the stock is owned by institutional investors and hedge funds.

Tecnoglass Company Profile

Tecnoglass Inc is a manufacturer of architectural glass, windows and aluminum products for residential and commercial construction. The company produces impact-resistant and non-impact windows and doors, insulated and laminated glass, curtain-wall systems, storefronts, and aluminum profiles and framing systems.

Founded in 1994, Tecnoglass is headquartered in Barranquilla, Colombia, where it operates a vertically integrated manufacturing platform. Its products are used in new construction and renovation projects, including high-rise buildings, multifamily housing, commercial properties and single-family homes.

Tecnoglass serves customers primarily in the United States, as well as in Colombia and other international markets across Latin America and the Caribbean.