Broad Bay Capital Management LP Buys 35,800 Shares of Tecnoglass Inc. $TGLS

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 position in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 16.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 248,207 shares of the company's stock after acquiring an additional 35,800 shares during the period. Tecnoglass comprises approximately 2.6% of Broad Bay Capital Management LP's holdings, making the stock its 18th largest position. Broad Bay Capital Management LP owned approximately 0.53% of Tecnoglass worth $17,759,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TGLS. Wellington Management Group LLP lifted its stake in Tecnoglass by 15.6% in the first quarter. Wellington Management Group LLP now owns 1,883,864 shares of the company's stock valued at $134,790,000 after acquiring an additional 254,686 shares during the last quarter. Trexquant Investment LP lifted its stake in Tecnoglass by 741.3% in the first quarter. Trexquant Investment LP now owns 119,997 shares of the company's stock valued at $8,586,000 after acquiring an additional 105,733 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Tecnoglass by 12.1% in the first quarter. American Century Companies Inc. now owns 816,166 shares of the company's stock worth $58,397,000 after buying an additional 87,791 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Tecnoglass in the first quarter worth $5,332,000. Finally, Silvercrest Asset Management Group LLC acquired a new stake in shares of Tecnoglass in the fourth quarter worth $4,239,000. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Tecnoglass Stock Performance

Shares of TGLS traded up $0.03 during midday trading on Monday, reaching $72.60. 303,138 shares of the stock were exchanged, compared to its average volume of 369,320. The company has a market cap of $3.41 billion, a P/E ratio of 22.69 and a beta of 1.87. Tecnoglass Inc. has a twelve month low of $58.24 and a twelve month high of $90.34. 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's 50 day simple moving average is $75.76 and its 200 day simple moving average is $75.25.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.03 EPS for the quarter, beating 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%.During the same period in the prior year, the firm earned $0.86 earnings per share. The business's revenue was up 16.3% compared to the same quarter last year. Tecnoglass has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Tecnoglass Inc. will post 3.53 earnings per share for the current year.

Tecnoglass Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, June 30th. This represents a $0.60 annualized dividend and a yield of 0.8%. Tecnoglass's dividend payout ratio (DPR) is presently 15.42%.

Analyst Upgrades and Downgrades

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

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.