Cooke & Bieler LP Has $24.53 Million Holdings in Tecnoglass Inc. $TGLS

Key Points

• Cooke & Bieler LP trimmed its Tecnoglass stake by 12.2% in the fourth quarter, selling 67,626 shares and ending with 487,371 shares worth about $24.5 million.
• Analysts remain mixed on TGLS: the stock currently carries a consensus “Hold” rating and an average price target of $63.33, though several firms still have Buy ratings on the name.
• Tecnoglass posted solid quarterly results and kept rewarding shareholders, reporting EPS of $0.78 on revenue of $249.0 million, while paying a $0.15 quarterly dividend and seeing notable insider buying in recent months.

Cooke & Bieler LP lessened its holdings in Tecnoglass Inc. (NYSE:TGLS - Free Report) by 12.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 487,371 shares of the company's stock after selling 67,626 shares during the period. Cooke & Bieler LP owned about 1.05% of Tecnoglass worth $24,525,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TGLS. Royal Bank of Canada raised its holdings in shares of Tecnoglass by 8.3% in the 1st quarter. Royal Bank of Canada now owns 3,121 shares of the company's stock worth $224,000 after acquiring an additional 238 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Tecnoglass by 25.8% in the 1st quarter. AQR Capital Management LLC now owns 3,505 shares of the company's stock worth $251,000 after acquiring an additional 719 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Tecnoglass by 21.4% in the 1st quarter. Intech Investment Management LLC now owns 17,918 shares of the company's stock worth $1,282,000 after acquiring an additional 3,161 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Tecnoglass by 23.9% in the 2nd quarter. Legal & General Group Plc now owns 5,115 shares of the company's stock worth $396,000 after acquiring an additional 987 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in shares of Tecnoglass in the 2nd quarter worth about $217,000. Institutional investors and hedge funds own 37.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Robert W. Baird decreased their price objective on shares of Tecnoglass from $62.00 to $55.00 and set an "outperform" rating for the company in a research note on Tuesday, April 21st. Weiss Ratings lowered shares of Tecnoglass from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, May 20th. DA Davidson decreased their price objective on shares of Tecnoglass from $80.00 to $70.00 and set a "buy" rating for the company in a research note on Monday, March 2nd. B. Riley Financial decreased their price objective on shares of Tecnoglass from $70.00 to $65.00 and set a "buy" rating for the company in a research note on Friday, March 6th. Finally, Zacks Research lowered shares of Tecnoglass from a "hold" rating to a "strong sell" rating in a research note on Monday, March 2nd. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $63.33.

Insider Activity at Tecnoglass

In related news, major shareholder Holding Corp Energy purchased 19,121 shares of the firm's stock in a transaction dated Friday, May 15th. The stock was bought at an average price of $40.27 per share, for a total transaction of $770,002.67. Following the purchase, the insider directly owned 20,831,985 shares in the company, valued at approximately $838,904,035.95. This trade represents a 0.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anne Louise Carricarte purchased 1,100 shares of the firm's stock in a transaction dated Friday, March 6th. The shares were bought at an average price of $43.27 per share, with a total value of $47,597.00. Following the purchase, the director owned 1,100 shares in the company, valued at $47,597. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 622,995 shares of company stock valued at $26,962,660. 0.06% of the stock is currently owned by company insiders.

Tecnoglass Trading Down 0.3%

Shares of TGLS stock opened at $41.06 on Tuesday. The company has a 50 day moving average of $42.75 and a 200-day moving average of $47.37. The company has a quick ratio of 1.15, a current ratio of 1.77 and a debt-to-equity ratio of 0.26. Tecnoglass Inc. has a 12-month low of $37.52 and a 12-month high of $90.34. The firm has a market cap of $1.82 billion, a P/E ratio of 12.71, a PEG ratio of 0.68 and a beta of 1.42.

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

Tecnoglass Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.5%. Tecnoglass's dividend payout ratio (DPR) is presently 18.58%.

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.

Want to see what other hedge funds are holding TGLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tecnoglass Inc. (NYSE:TGLS - Free Report).

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.