Connors Investor Services Inc. Invests $2.07 Million in Tecnoglass Inc. $TGLS

Key Points

• Connors Investor Services opened a new position in Tecnoglass, buying 41,215 shares worth about $2.07 million in the fourth quarter and ending with roughly 0.09% ownership.
• Analysts are mixed on TGLS: recent calls included downgrades and lower price targets, and the stock currently carries an overall “Hold” consensus with an average target price of $63.33.
• Tecnoglass recently beat quarterly earnings expectations, reporting $0.78 EPS on $249.0 million in revenue, while also paying a quarterly dividend of $0.15 per share for a 1.5% annualized yield.

Connors Investor Services Inc. bought a new position in shares of Tecnoglass Inc. (NYSE:TGLS - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 41,215 shares of the company's stock, valued at approximately $2,074,000. Connors Investor Services Inc. owned about 0.09% of Tecnoglass at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Covestor Ltd lifted its position in shares of Tecnoglass by 36.8% during the fourth quarter. Covestor Ltd now owns 3,122 shares of the company's stock worth $157,000 after purchasing an additional 840 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of Tecnoglass by 30.3% during the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock worth $433,000 after purchasing an additional 2,000 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Tecnoglass by 19.1% during the fourth quarter. ProShare Advisors LLC now owns 4,958 shares of the company's stock worth $249,000 after purchasing an additional 796 shares during the last quarter. Denali Advisors LLC bought a new stake in shares of Tecnoglass during the fourth quarter worth $1,702,000. Finally, Vest Financial LLC lifted its position in shares of Tecnoglass by 30.2% during the fourth quarter. Vest Financial LLC now owns 88,040 shares of the company's stock worth $4,430,000 after purchasing an additional 20,431 shares during the last quarter. 37.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on TGLS shares. Zacks Research downgraded Tecnoglass from a "hold" rating to a "strong sell" rating in a research report on Monday, March 2nd. B. Riley Financial decreased their price objective on Tecnoglass from $70.00 to $65.00 and set a "buy" rating for the company in a report on Friday, March 6th. Weiss Ratings downgraded Tecnoglass from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday. DA Davidson decreased their price objective on Tecnoglass from $80.00 to $70.00 and set a "buy" rating for the company in a report on Monday, March 2nd. Finally, Robert W. Baird decreased their price objective on Tecnoglass from $62.00 to $55.00 and set an "outperform" rating for the company in a report on Tuesday, April 21st. 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 stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $63.33.

Tecnoglass Stock Performance

TGLS stock opened at $41.06 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.15. The business has a 50-day moving average price of $42.83 and a 200 day moving average price of $47.57. The company has a market capitalization of $1.82 billion, a P/E ratio of 12.71, a PEG ratio of 0.68 and a beta of 1.42. Tecnoglass Inc. has a 1-year low of $37.52 and a 1-year high of $90.34.

Tecnoglass (NYSE:TGLS - Get Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported $0.78 earnings per share for the quarter, beating 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 firm's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 earnings per share. As a group, equities research analysts forecast that Tecnoglass Inc. will post 2.73 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st were issued a $0.15 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.5%. Tecnoglass's payout ratio is currently 18.58%.

Insider Transactions at Tecnoglass

In other news, Director Anne Louise Carricarte bought 1,100 shares of Tecnoglass stock in a transaction on Friday, March 6th. The stock was acquired at an average cost of $43.27 per share, for a total transaction of $47,597.00. Following the completion of the acquisition, the director owned 1,100 shares of the company's stock, valued at $47,597. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Holding Corp Energy bought 107,629 shares of Tecnoglass stock in a transaction on Friday, March 13th. The stock was purchased at an average price of $45.11 per share, with a total value of $4,855,144.19. Following the completion of the acquisition, the insider directly owned 20,731,985 shares of the company's stock, valued at $935,219,843.35. This represents a 0.52% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 622,995 shares of company stock valued at $26,962,660 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Tecnoglass 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.