Jacobs Levy Equity Management Inc. Invests $3.60 Million in Tecnoglass Inc. $TGLS

Key Points

• Jacobs Levy Equity Management Inc. has acquired a new stake in Tecnoglass Inc., purchasing 50,271 shares valued at approximately $3.6 million, representing about 0.11% of the company's stock.
• Tecnoglass reported earnings of $1.03 per share for the last quarter, exceeding analysts' expectations of $0.96, along with a strong revenue increase of 16.3% year-over-year.
• Analysts have set a consensus rating of "Moderate Buy" on Tecnoglass, with an average price target of $89, following an initiation of coverage by B. Riley.

Jacobs Levy Equity Management Inc. bought a new position in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 50,271 shares of the company's stock, valued at approximately $3,597,000. Jacobs Levy Equity Management Inc. owned approximately 0.11% of Tecnoglass as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Alliancebernstein L.P. increased its stake in shares of Tecnoglass by 42.3% during the first quarter. Alliancebernstein L.P. now owns 317,303 shares of the company's stock worth $22,703,000 after purchasing an additional 94,335 shares during the period. AQR Capital Management LLC increased its stake in Tecnoglass by 25.8% during 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 period. PDT Partners LLC increased its stake in Tecnoglass by 963.3% during the 1st quarter. PDT Partners LLC now owns 53,167 shares of the company's stock worth $3,804,000 after acquiring an additional 48,167 shares during the period. Cubist Systematic Strategies LLC bought a new position in Tecnoglass during the 1st quarter worth $478,000. Finally, Royal Bank of Canada increased its stake in Tecnoglass by 8.3% during 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 period. 37.35% of the stock is owned by institutional investors and hedge funds.

Tecnoglass Trading Down 4.1%

NASDAQ:TGLS traded down $3.00 during trading hours on Friday, hitting $70.59. 219,113 shares of the company were exchanged, compared to its average volume of 362,575. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 22.06 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 one year low of $60.25 and a one year high of $90.34. The company has a fifty day simple moving average of $74.79 and a 200 day simple moving average of $75.17.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.07. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%.The business's quarterly revenue 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. Sell-side analysts expect that Tecnoglass Inc. will post 3.53 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, B. Riley began coverage on Tecnoglass in a research note on Friday, May 16th. They set a "buy" rating and a $100.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.00.

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.