Tecnoglass (NYSE:TGLS) Reaches New 1-Year Low – Here’s What Happened

Tecnoglass Inc. (NYSE:TGLS)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $37.52 and last traded at $38.5510, with a volume of 333542 shares. The stock had previously closed at $38.02.

Analyst Ratings Changes

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

Tecnoglass Trading Up 1.4%

The stock has a market capitalization of $1.71 billion, a PE ratio of 11.94, a P/E/G ratio of 0.63 and a beta of 1.42. The firm has a 50 day moving average price of $43.34 and a 200 day moving average price of $48.44. The company has a quick ratio of 1.25, a current ratio of 1.77 and a debt-to-equity ratio of 0.26.

Tecnoglass (NYSE:TGLS) last issued its quarterly earnings data on Friday, May 8th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. The firm had revenue of $249.01 million during the quarter, compared to the consensus estimate of $243.00 million. Tecnoglass had a return on equity of 21.51% and a net margin of 14.77%.The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 earnings per share. Equities analysts expect that Tecnoglass Inc. will post 2.73 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.6%. Tecnoglass’s dividend payout ratio is 18.58%.

Insider Buying and Selling

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

Institutional Trading of Tecnoglass

Institutional investors and hedge funds have recently modified their holdings of the business. Citigroup Inc. increased its position in shares of Tecnoglass by 445.3% during the third quarter. Citigroup Inc. now owns 526,061 shares of the company’s stock valued at $35,199,000 after acquiring an additional 429,590 shares during the last quarter. American Century Companies Inc. increased its position in Tecnoglass by 9.6% in the third quarter. American Century Companies Inc. now owns 1,022,101 shares of the company’s stock worth $68,389,000 after buying an additional 89,175 shares during the last quarter. JPMorgan Chase & Co. increased its position in Tecnoglass by 53.4% in the third quarter. JPMorgan Chase & Co. now owns 33,460 shares of the company’s stock worth $2,239,000 after buying an additional 11,649 shares during the last quarter. Capital World Investors increased its position in Tecnoglass by 6.2% in the third quarter. Capital World Investors now owns 1,794,272 shares of the company’s stock worth $120,055,000 after buying an additional 104,132 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Tecnoglass by 3.1% in the third quarter. First Trust Advisors LP now owns 1,026,970 shares of the company’s stock worth $68,715,000 after buying an additional 30,834 shares during the last quarter. 37.35% of the stock is owned by hedge funds and other institutional investors.

About Tecnoglass

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.