Tecnoglass Inc. $TGLS Shares Acquired by Broad Bay Capital Management LP

Key Points

• Broad Bay Capital Management LP increased its holdings in Tecnoglass Inc. by 16.9% during the first quarter, acquiring an additional 35,800 shares to now own a total of 248,207 shares.
• Analysts remain bullish on Tecnoglass, with B. Riley initiating coverage with a "buy" rating and a target price of $100.00, indicating strong market confidence in the stock.
• Tecnoglass recently reported earnings of $1.03 per share, beating consensus estimates and showing a 16.3% year-over-year revenue increase, showcasing strong financial performance.

Broad Bay Capital Management LP lifted its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 16.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 248,207 shares of the company's stock after buying an additional 35,800 shares during the quarter. Tecnoglass comprises about 2.6% of Broad Bay Capital Management LP's holdings, making the stock its 18th biggest holding. Broad Bay Capital Management LP owned 0.53% of Tecnoglass worth $17,759,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Silvercrest Asset Management Group LLC acquired a new position in Tecnoglass in the fourth quarter valued at $4,239,000. EntryPoint Capital LLC boosted its position in shares of Tecnoglass by 178.8% in the 1st quarter. EntryPoint Capital LLC now owns 7,144 shares of the company's stock valued at $511,000 after purchasing an additional 4,582 shares during the period. GAMMA Investing LLC grew its stake in Tecnoglass by 5,771.4% during the 1st quarter. GAMMA Investing LLC now owns 17,673 shares of the company's stock worth $1,265,000 after buying an additional 17,372 shares during the last quarter. Vanguard Group Inc. increased its position in Tecnoglass by 4.4% during the first quarter. Vanguard Group Inc. now owns 540,314 shares of the company's stock worth $38,659,000 after buying an additional 22,879 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Tecnoglass by 1.2% in the first quarter. Principal Financial Group Inc. now owns 26,982 shares of the company's stock valued at $1,931,000 after buying an additional 331 shares during the last quarter. 37.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, B. Riley started coverage on shares of Tecnoglass in a research report on Friday, May 16th. They set a "buy" rating and a $100.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Tecnoglass has a consensus rating of "Moderate Buy" and a consensus target price of $89.00.

Tecnoglass Stock Performance

TGLS traded up $0.47 on Wednesday, hitting $71.25. 52,826 shares of the company traded hands, compared to its average volume of 366,170. The company has a 50 day moving average of $75.63 and a 200-day moving average of $75.19. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $3.35 billion, a PE ratio of 22.26 and a beta of 1.87. Tecnoglass Inc. has a 12-month low of $58.24 and a 12-month high of $90.34.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.07. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%.The company's revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.86 earnings per share. Tecnoglass has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Tecnoglass Inc. will post 3.53 earnings per share for the current year.

Tecnoglass Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, June 30th. Tecnoglass's dividend payout ratio is 15.42%.

About Tecnoglass

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.