Tecnoglass (NASDAQ:TGLS) Sets New 52-Week High – Here’s What Happened

Tecnoglass Inc. (NASDAQ:TGLS) hit a new 52-week high on Monday . The company traded as high as $82.01 and last traded at $81.80, with a volume of 43323 shares. The stock had previously closed at $79.34.

Analyst Upgrades and Downgrades

TGLS has been the topic of a number of research analyst reports. Sidoti cut shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research report on Tuesday, October 22nd. Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus boosted their price target on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, August 9th. B. Riley restated a “neutral” rating and set a $72.00 price target (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Finally, DA Davidson lifted their price objective on shares of Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Tecnoglass has a consensus rating of “Hold” and a consensus price target of $77.40.

Tecnoglass Trading Up 0.8 %

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 firm has a fifty day simple moving average of $72.06 and a 200-day simple moving average of $60.25. The firm has a market cap of $3.74 billion, a P/E ratio of 24.67 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last issued its earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.11. The company had revenue of $237.90 million for 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 quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. On average, equities research analysts expect that Tecnoglass Inc. will post 3.55 earnings per share for the current year.

Tecnoglass Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Monday, September 30th. Tecnoglass’s payout ratio is presently 13.75%.

Insider Activity 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 transaction was disclosed in a document filed 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 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 in the company, valued at $1,693,771,043.76. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On Tecnoglass

Institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new position in shares of Tecnoglass in the 3rd quarter worth approximately $2,211,000. Rhumbline Advisers purchased a new position in Tecnoglass in the second quarter worth $1,468,000. The Manufacturers Life Insurance Company bought a new position in Tecnoglass in the 2nd quarter valued at $589,000. GSA Capital Partners LLP grew its stake in Tecnoglass by 262.4% in the 3rd quarter. GSA Capital Partners LLP now owns 20,089 shares of the company’s stock valued at $1,379,000 after purchasing an additional 14,545 shares during the period. Finally, Semanteon Capital Management LP purchased a new stake in shares of Tecnoglass during the 3rd quarter valued at $1,237,000. 37.35% of the stock is 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.