First Trust Advisors LP Buys 30,834 Shares of Tecnoglass Inc. $TGLS

Key Points

• First Trust Advisors LP raised its stake in Tecnoglass by 3.1%, buying 30,834 shares to hold 1,026,970 shares (about 2.21% of the company) valued at roughly $68.7 million at quarter-end.
• Tecnoglass missed quarterly EPS ($0.63 vs. $0.84 estimate) on $245.3 million of revenue (up 3% YoY); the stock trades near $42.53 with a $1.90 billion market cap and a PE of 12.44, well below its 12‑month high of $90.34.
• Analyst sentiment is mixed after the quarter — several price targets were cut and the consensus rating is a 'Hold' with an average target of $67.50 (two Buys, one Hold, one Sell).

First Trust Advisors LP raised its stake in shares of Tecnoglass Inc. (NYSE:TGLS - Free Report) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,026,970 shares of the company's stock after buying an additional 30,834 shares during the quarter. First Trust Advisors LP owned about 2.21% of Tecnoglass worth $68,715,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TGLS. First Horizon Corp acquired a new position in Tecnoglass during the third quarter valued at approximately $28,000. Federated Hermes Inc. increased its stake in Tecnoglass by 290.2% in the third quarter. Federated Hermes Inc. now owns 597 shares of the company's stock valued at $40,000 after purchasing an additional 444 shares in the last quarter. Covestor Ltd raised its holdings in Tecnoglass by 52.9% in the third quarter. Covestor Ltd now owns 2,282 shares of the company's stock worth $153,000 after purchasing an additional 790 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Tecnoglass by 5.7% during the second quarter. Ameritas Investment Partners Inc. now owns 2,485 shares of the company's stock worth $192,000 after purchasing an additional 135 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Tecnoglass during the third quarter worth $178,000. 37.35% of the stock is owned by institutional investors.

Tecnoglass Stock Up 0.2%

Tecnoglass stock opened at $42.53 on Wednesday. The stock has a market capitalization of $1.90 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 0.54 and a beta of 1.72. Tecnoglass Inc. has a twelve month low of $40.09 and a twelve month high of $90.34. The company has a quick ratio of 1.25, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average of $50.09 and a 200-day moving average of $56.02.

Tecnoglass (NYSE:TGLS - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.21). The company had revenue of $245.30 million for the quarter. Tecnoglass had a return on equity of 23.05% and a net margin of 16.22%.The firm's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $1.05 earnings per share.

Analysts Set New Price Targets

A number of analysts recently commented on TGLS shares. DA Davidson lowered their price objective on shares of Tecnoglass from $80.00 to $70.00 and set a "buy" rating for the company in a research report on Monday, March 2nd. Zacks Research lowered Tecnoglass from a "hold" rating to a "strong sell" rating in a report on Monday, March 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of Tecnoglass in a research note on Monday, December 22nd. Finally, B. Riley Financial lowered their price target on Tecnoglass from $70.00 to $65.00 and set a "buy" rating for the company in a report on Friday, March 6th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $67.50.

Insider Transactions at Tecnoglass

In other news, Director Anne Louise Carricarte purchased 1,100 shares of the company's stock in a transaction on Friday, March 6th. The shares were purchased at an average price of $43.27 per share, with a total value of $47,597.00. Following the purchase, the director directly owned 1,100 shares of the company's stock, valued at $47,597. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company's stock.

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.

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