Tecnoglass Inc. (NASDAQ:TGLS) Director Sells $2,222,771.60 in Stock

Tecnoglass Inc. (NASDAQ:TGLS) Director Julio A. Torres sold 30,520 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total value of $2,222,771.60. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Tecnoglass Price Performance

NASDAQ TGLS opened at $73.93 on Wednesday. Tecnoglass Inc. has a 12 month low of $32.69 and a 12 month high of $80.51. The firm has a market capitalization of $3.47 billion, a PE ratio of 23.10 and a beta of 1.86. The company’s 50 day simple moving average is $69.29 and its 200 day simple moving average is $58.65. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.11. Tecnoglass had a return on equity of 28.30% and a net margin of 17.82%. The company had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $240.19 million. During the same period last year, the firm earned $0.98 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities research analysts forecast that Tecnoglass Inc. will post 3.52 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Monday, September 30th. Tecnoglass’s payout ratio is 13.75%.

Analyst Ratings Changes

Several brokerages have recently issued reports on TGLS. Stifel Nicolaus boosted their price target on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a report on Friday, August 9th. Robert W. Baird upped their target price on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. DA Davidson lifted their price target on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday. Sidoti lowered Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a report on Tuesday, October 22nd. Finally, Raymond James downgraded Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Tecnoglass currently has a consensus rating of “Hold” and an average target price of $77.40.

Hedge Funds Weigh In On Tecnoglass

Hedge funds have recently made changes to their positions in the business. Crossmark Global Holdings Inc. boosted its holdings in Tecnoglass by 3.2% during the second quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock worth $355,000 after buying an additional 220 shares in the last quarter. X Square Capital LLC boosted its stake in shares of Tecnoglass by 5.7% during the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after acquiring an additional 237 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in shares of Tecnoglass by 3.1% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 9,596 shares of the company’s stock worth $659,000 after acquiring an additional 287 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Tecnoglass by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 13,681 shares of the company’s stock valued at $687,000 after purchasing an additional 292 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Tecnoglass by 4,735.7% in the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after purchasing an additional 663 shares during the period. Institutional investors and hedge funds own 37.35% of the company’s stock.

Tecnoglass Company Profile

Tecnoglass Inc manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally. The company provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.