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

Tecnoglass Inc. (NYSE:TGLSGet Free Report) shares hit a new 52-week low on Friday . The company traded as low as $39.37 and last traded at $39.8450, with a volume of 335578 shares traded. The stock had previously closed at $42.44.

Key Stories Impacting Tecnoglass

Here are the key news stories impacting Tecnoglass this week:

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Report on TGLS

Tecnoglass Price Performance

The company has a market capitalization of $1.78 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 0.66 and a beta of 1.42. The company’s 50-day moving average price is $43.96 and its two-hundred day moving average price is $49.03. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.25.

Tecnoglass (NYSE:TGLSGet Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. Tecnoglass had a net margin of 14.77% and a return on equity of 21.50%. The business had revenue of $249.01 million during the quarter, compared to the consensus estimate of $243.00 million. During the same quarter in the previous year, the firm posted $0.92 EPS. Tecnoglass’s revenue was up 12.0% compared to the same quarter last year. As a group, sell-side analysts expect that Tecnoglass Inc. will post 2.72 EPS for the current year.

Tecnoglass Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, March 31st. Tecnoglass’s payout ratio is currently 17.54%.

Insider Activity at Tecnoglass

In other news, Director Anne Louise Carricarte purchased 1,100 shares of Tecnoglass stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average cost of $43.27 per share, for a total transaction of $47,597.00. Following the purchase, the director directly owned 1,100 shares of the company’s stock, valued at $47,597. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Holding Corp Energy acquired 107,629 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was purchased at an average cost of $45.11 per share, for a total transaction of $4,855,144.19. Following the completion of the acquisition, the insider owned 20,731,985 shares in the company, valued at approximately $935,219,843.35. This represents a 0.52% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 522,995 shares of company stock worth $22,912,205 in the last ninety days. 0.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tecnoglass

Institutional investors have recently modified their holdings of the business. Citigroup Inc. grew its position in shares of Tecnoglass by 445.3% during the 3rd quarter. Citigroup Inc. now owns 526,061 shares of the company’s stock worth $35,199,000 after purchasing an additional 429,590 shares in the last quarter. Fourth Sail Capital LP acquired a new stake in shares of Tecnoglass in the fourth quarter valued at approximately $17,461,000. Jane Street Group LLC raised its position in shares of Tecnoglass by 2,640.4% in the second quarter. Jane Street Group LLC now owns 326,113 shares of the company’s stock valued at $25,228,000 after buying an additional 314,213 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Tecnoglass by 195.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 285,426 shares of the company’s stock valued at $14,363,000 after buying an additional 188,975 shares during the period. Finally, First Trust Advisors LP grew its position in Tecnoglass by 17.8% during the fourth quarter. First Trust Advisors LP now owns 1,209,419 shares of the company’s stock worth $60,858,000 after buying an additional 182,449 shares in the last quarter. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Company Profile

(Get Free Report)

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.

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