CenterBook Partners LP Buys 51,145 Shares of Tecnoglass Inc. $TGLS

Key Points

• CenterBook Partners LP increased its Tecnoglass stake by 64.2% in the fourth quarter, adding 51,145 shares to bring its total holdings to 130,761 shares, worth about $6.58 million.
• Several other institutional investors also boosted their positions, while institutions as a group own 37.35% of Tecnoglass stock. Insider activity was also positive, with Holding Corp Energy buying 107,629 shares in March.
• Tecnoglass recently beat quarterly earnings expectations, reporting $0.78 EPS on revenue of $249.01 million, and analysts currently have a consensus rating of Hold with an average price target of $63.33.

CenterBook Partners LP increased its stake in shares of Tecnoglass Inc. (NYSE:TGLS - Free Report) by 64.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 130,761 shares of the company's stock after acquiring an additional 51,145 shares during the quarter. CenterBook Partners LP owned about 0.28% of Tecnoglass worth $6,580,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TGLS. JPMorgan Chase & Co. increased its position in Tecnoglass by 53.4% during the third quarter. JPMorgan Chase & Co. now owns 33,460 shares of the company's stock valued at $2,239,000 after acquiring an additional 11,649 shares during the last quarter. Citigroup Inc. increased its position in 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% during the third quarter. American Century Companies Inc. now owns 1,022,101 shares of the company's stock valued at $68,389,000 after acquiring an additional 89,175 shares during the last quarter. Capital World Investors increased its position in Tecnoglass by 6.2% during the third quarter. Capital World Investors now owns 1,794,272 shares of the company's stock valued at $120,055,000 after acquiring an additional 104,132 shares during the last quarter. Finally, Denali Advisors LLC bought a new position in Tecnoglass during the fourth quarter valued at $1,702,000. Institutional investors own 37.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TGLS shares. Weiss Ratings cut shares of Tecnoglass from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, May 20th. B. Riley Financial cut their price target on shares of Tecnoglass from $70.00 to $65.00 and set a "buy" rating on the stock in a report on Friday, March 6th. Robert W. Baird cut their price target on shares of Tecnoglass from $62.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, April 21st. DA Davidson cut their price target 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. Finally, Zacks Research cut shares of Tecnoglass from a "hold" rating to a "strong sell" rating in a report on Monday, March 2nd. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $63.33.

Insider Buying and Selling

In other Tecnoglass news, major shareholder Holding Corp Energy bought 107,629 shares of the business's stock in a transaction on Friday, March 13th. The shares were acquired at an average price of $45.11 per share, with a total value of $4,855,144.19. Following the transaction, the insider owned 20,731,985 shares of the company's stock, valued at approximately $935,219,843.35. This trade represents a 0.52% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have bought 514,895 shares of company stock worth $22,521,643. Company insiders own 0.06% of the company's stock.

Tecnoglass Trading Up 0.2%

NYSE TGLS opened at $42.45 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.77. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 0.70 and a beta of 1.42. The company's 50-day simple moving average is $42.81 and its two-hundred day simple moving average is $47.06. Tecnoglass Inc. has a one year low of $37.52 and a one year high of $90.34.

Tecnoglass (NYSE:TGLS - Get Free Report) last posted its earnings results on Friday, May 8th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.06. The business had revenue of $249.01 million for the quarter, compared to the consensus estimate of $243.00 million. Tecnoglass had a net margin of 14.77% and a return on equity of 21.51%. The company's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. Equities analysts forecast that Tecnoglass Inc. will post 2.73 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.4%. Tecnoglass's dividend payout ratio (DPR) is 13.93%.

Tecnoglass Company Profile

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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