Vest Financial LLC Boosts Stock Holdings in Tecnoglass Inc. $TGLS

Vest Financial LLC grew its position in shares of Tecnoglass Inc. (NYSE:TGLS) by 30.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,040 shares of the company’s stock after buying an additional 20,431 shares during the quarter. Vest Financial LLC’s holdings in Tecnoglass were worth $4,430,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. R Squared Ltd grew its holdings in shares of Tecnoglass by 23.4% during the fourth quarter. R Squared Ltd now owns 6,428 shares of the company’s stock valued at $323,000 after buying an additional 1,221 shares during the last quarter. First Horizon Corp grew its holdings in shares of Tecnoglass by 63.3% during the fourth quarter. First Horizon Corp now owns 673 shares of the company’s stock valued at $34,000 after buying an additional 261 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Tecnoglass by 216.0% during the fourth quarter. State of Alaska Department of Revenue now owns 9,337 shares of the company’s stock valued at $469,000 after buying an additional 6,382 shares during the last quarter. Yorktown Management & Research Co Inc purchased a new stake in shares of Tecnoglass during the fourth quarter valued at approximately $204,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Tecnoglass during the fourth quarter valued at approximately $249,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TGLS shares. DA Davidson cut their price target on shares of Tecnoglass from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Zacks Research cut shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Tecnoglass in a research report on Friday, April 10th. Robert W. Baird lowered their price objective on shares of Tecnoglass from $62.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 21st. Finally, B. Riley Financial lowered their price objective on shares of Tecnoglass from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Tecnoglass presently has an average rating of “Hold” and an average target price of $63.33.

Tecnoglass Trading Down 2.4%

Shares of TGLS opened at $42.47 on Thursday. Tecnoglass Inc. has a 12-month low of $39.53 and a 12-month high of $90.34. The stock’s fifty day simple moving average is $44.55 and its 200-day simple moving average is $49.69. The company has a quick ratio of 1.25, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.90 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 0.74 and a beta of 1.55.

Tecnoglass (NYSE:TGLS) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.21). The business had revenue of $245.30 million for the quarter. Tecnoglass had a net margin of 16.22% and a return on equity of 23.05%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.05 earnings per share. As a group, research analysts predict that Tecnoglass Inc. will post 2.72 earnings per share for the current year.

Tecnoglass Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.60 annualized dividend and a yield of 1.4%. Tecnoglass’s dividend payout ratio is presently 17.54%.

Insiders Place Their Bets

In other news, Director Anne Louise Carricarte purchased 1,100 shares of the business’s stock in a transaction on Friday, March 6th. The stock was purchased at an average price of $43.27 per share, for a total transaction of $47,597.00. Following the completion of the purchase, the director directly owned 1,100 shares in the company, valued at $47,597. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Holding Corp Energy purchased 107,629 shares of the business’s stock in a transaction on Friday, March 13th. The stock was purchased at an average price of $45.11 per share, with a total value of $4,855,144.19. Following the purchase, the insider owned 20,731,985 shares of the company’s stock, valued at approximately $935,219,843.35. The trade was a 0.52% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 522,995 shares of company stock valued at $22,912,205. Corporate insiders own 0.06% of the company’s stock.

Tecnoglass Company 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.