6,677 Shares in Tecnoglass Inc. $TGLS Bought by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC has purchased a new stake in Tecnoglass Inc., acquiring 6,677 shares valued at approximately $478,000 in the first quarter.
• Other institutional investors have also increased their positions in Tecnoglass, with Wellington Management Group reporting a 15.6% increase and Trexquant Investment LP lifting their stake by an astounding 741.3%.
• Analysts remain bullish on Tecnoglass, with B. Riley initiating coverage and setting a "buy" rating and a price target of $100.00; the average rating is currently a "Moderate Buy".

Cubist Systematic Strategies LLC acquired a new stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 6,677 shares of the company's stock, valued at approximately $478,000.

A number of other hedge funds have also bought and sold shares of the business. Nations Financial Group Inc. IA ADV grew its stake in Tecnoglass by 1.6% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 10,042 shares of the company's stock valued at $719,000 after buying an additional 160 shares in the last quarter. Royal Bank of Canada grew its position in shares of Tecnoglass by 8.3% during the 1st quarter. Royal Bank of Canada now owns 3,121 shares of the company's stock valued at $224,000 after purchasing an additional 238 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Tecnoglass by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 26,982 shares of the company's stock valued at $1,931,000 after purchasing an additional 331 shares in the last quarter. JFS Wealth Advisors LLC grew its position in shares of Tecnoglass by 1,350.0% during the 1st quarter. JFS Wealth Advisors LLC now owns 435 shares of the company's stock valued at $31,000 after purchasing an additional 405 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Tecnoglass during the 1st quarter valued at $38,000. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Tecnoglass Price Performance

Shares of TGLS traded down $1.42 during mid-day trading on Tuesday, reaching $70.07. 573,581 shares of the stock traded hands, compared to its average volume of 363,588. The firm has a fifty day moving average price of $74.58 and a 200 day moving average price of $75.15. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 21.90 and a beta of 1.87. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. Tecnoglass Inc. has a 1 year low of $60.25 and a 1 year high of $90.34.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last released 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 net margin of 17.82% and a return on equity of 27.71%. Tecnoglass's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 earnings per share. Tecnoglass has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Tecnoglass Inc. will post 3.53 earnings per share for the current year.

Tecnoglass Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a $0.15 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.60 annualized dividend and a yield of 0.9%. Tecnoglass's payout ratio is 15.42%.

Tecnoglass Company Profile

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.