Dimensional Fund Advisors LP Increases Stock Holdings in Tecnoglass Inc. $TGLS

Key Points

• Dimensional Fund Advisors increased its Tecnoglass stake by 15% in the first quarter, adding 161,955 shares to own 1.24 million shares valued at approximately $55.4 million, or 2.78% of the company.
• Analysts maintain a “Moderate Buy” consensus on TGLS, with three Buy ratings and two Holds and an average price target of $63.33, despite Robert W. Baird lowering its target to $55.
• Tecnoglass reported first-quarter EPS of $0.78, beating estimates by $0.06, while revenue rose 12% year over year. The company also pays a quarterly dividend of $0.15, equivalent to a 1.4% annual yield.

Dimensional Fund Advisors LP increased its position in Tecnoglass Inc. (NYSE:TGLS - Free Report) by 15.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,243,496 shares of the company's stock after acquiring an additional 161,955 shares during the quarter. Dimensional Fund Advisors LP owned about 2.78% of Tecnoglass worth $55,395,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kemnay Advisory Services Inc. purchased a new stake in shares of Tecnoglass in the fourth quarter worth $28,000. Arax Advisory Partners grew its position in Tecnoglass by 128.4% during the fourth quarter. Arax Advisory Partners now owns 596 shares of the company's stock worth $30,000 after buying an additional 335 shares in the last quarter. First Horizon Corp grew its position in Tecnoglass by 63.3% during the fourth quarter. First Horizon Corp now owns 673 shares of the company's stock worth $34,000 after buying an additional 261 shares in the last quarter. Parallel Advisors LLC increased its stake in Tecnoglass by 444.0% in the 1st quarter. Parallel Advisors LLC now owns 952 shares of the company's stock worth $42,000 after acquiring an additional 777 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Tecnoglass by 223.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company's stock valued at $43,000 after acquiring an additional 440 shares in the last quarter. Institutional investors own 37.35% of the company's stock.

Wall Street Analyst Weigh In

TGLS has been the topic of several research analyst reports. Weiss Ratings cut shares of Tecnoglass from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, May 20th. Robert W. Baird decreased 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. Finally, Zacks Research raised shares of Tecnoglass from a "strong sell" rating to a "hold" rating in a report on Friday, June 12th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Tecnoglass presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.33.

Tecnoglass Price Performance

TGLS stock opened at $43.42 on Friday. The firm has a market cap of $1.93 billion, a P/E ratio of 13.44 and a beta of 1.41. The firm's fifty day moving average is $44.47 and its 200 day moving average is $45.49. Tecnoglass Inc. has a 52 week low of $37.52 and a 52 week high of $83.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.77.

Tecnoglass (NYSE:TGLS - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.78 earnings per share (EPS) for the quarter, beating 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's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the business earned $0.92 earnings per share. Research analysts predict that Tecnoglass Inc. will post 2.73 earnings per share for the current year.

Tecnoglass Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were given a $0.15 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.60 annualized dividend and a yield of 1.4%. Tecnoglass's payout ratio is presently 18.58%.

Insider Buying and Selling at Tecnoglass

In other news, major shareholder Holding Corp Energy bought 19,121 shares of the business's stock in a transaction dated Friday, May 15th. The shares were purchased at an average price of $40.27 per share, for a total transaction of $770,002.67. Following the completion of the acquisition, the insider owned 20,831,985 shares of the company's stock, valued at approximately $838,904,035.95. This trade represents a 0.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.06% of the company's stock.

About Tecnoglass

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source