R Squared Ltd Acquires Shares of 880 Tecnoglass Inc. (NASDAQ:TGLS)

R Squared Ltd bought a new position in shares of Tecnoglass Inc. (NASDAQ:TGLS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 880 shares of the company’s stock, valued at approximately $70,000.

Other hedge funds have also modified their holdings of the company. USA Financial Formulas acquired a new position in Tecnoglass during the fourth quarter worth $26,000. Signaturefd LLC boosted its position in shares of Tecnoglass by 4,735.7% during the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after acquiring an additional 663 shares during the last quarter. DGS Capital Management LLC purchased a new stake in shares of Tecnoglass in the third quarter valued at about $204,000. International Assets Investment Management LLC acquired a new stake in Tecnoglass during the fourth quarter worth about $243,000. Finally, Wolverine Trading LLC purchased a new position in Tecnoglass during the third quarter worth about $225,000. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tecnoglass

In other news, Director Julio A. Torres sold 30,520 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total value of $2,222,771.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total value of $104,573,402.40. Following the transaction, the insider now directly owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Tecnoglass Stock Performance

NASDAQ TGLS opened at $75.65 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. The company has a market cap of $3.55 billion, a P/E ratio of 23.64 and a beta of 1.90. The stock has a 50-day moving average of $80.49 and a two-hundred day moving average of $70.21. Tecnoglass Inc. has a 1-year low of $40.94 and a 1-year high of $86.99.

Tecnoglass (NASDAQ:TGLS) last released its earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.97 by $0.11. The firm had revenue of $237.90 million during the quarter, compared to analysts’ expectations of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. Tecnoglass’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS. As a group, analysts anticipate that Tecnoglass Inc. will post 3.55 EPS for the current year.

Tecnoglass Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.79%. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, December 31st. Tecnoglass’s dividend payout ratio (DPR) is presently 18.75%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TGLS. Sidoti downgraded shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a report on Tuesday, October 22nd. DA Davidson lifted their target price on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Raymond James cut Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Robert W. Baird boosted their price objective on shares of Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, StockNews.com started coverage on shares of Tecnoglass in a research note on Saturday, December 14th. They set a “hold” rating for the company. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $77.40.

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.