Tecnoglass (NASDAQ:TGLS) Shares Gap Down on Insider Selling

Tecnoglass Inc. (NASDAQ:TGLS)’s share price gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $79.37, but opened at $73.00. Tecnoglass shares last traded at $71.73, with a volume of 131,499 shares trading hands.

Specifically, major shareholder Holding Corp Energy sold 1,432,120 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the transaction, the insider now directly owns 23,195,988 shares of the company’s stock, valued at approximately $1,693,771,043.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julio A. Torres sold 30,520 shares of Tecnoglass stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total transaction of $2,222,771.60. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

TGLS has been the subject of several recent research reports. DA Davidson boosted their target price on shares of Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday. Robert W. Baird upped their price objective on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Stifel Nicolaus upped their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. 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. Finally, B. Riley reissued a “neutral” rating and issued a $72.00 price target (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Tecnoglass presently has a consensus rating of “Hold” and an average target price of $77.40.

Tecnoglass Price Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. The company has a market cap of $3.47 billion, a P/E ratio of 23.07 and a beta of 1.86. The stock has a 50-day simple moving average of $69.57 and a 200 day simple moving average of $58.76.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The business’s revenue was up 13.1% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. On average, equities analysts expect that Tecnoglass Inc. will post 3.55 EPS for the current year.

Tecnoglass Dividend Announcement

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

Institutional Trading of Tecnoglass

Institutional investors have recently modified their holdings of the company. William Blair Investment Management LLC grew its position in shares of Tecnoglass by 8.7% in the second quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock valued at $88,060,000 after purchasing an additional 140,112 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Tecnoglass by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock valued at $44,385,000 after acquiring an additional 96,602 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Tecnoglass by 2.3% in the 1st quarter. Clearbridge Investments LLC now owns 389,876 shares of the company’s stock valued at $20,285,000 after acquiring an additional 8,913 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in Tecnoglass by 219.7% in the second quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock valued at $10,949,000 after purchasing an additional 149,933 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Tecnoglass by 8.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 183,400 shares of the company’s stock valued at $12,592,000 after purchasing an additional 13,803 shares during the period. 37.35% of the stock is currently owned by institutional investors.

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.