Jacobs Levy Equity Management Inc. Purchases Shares of 50,271 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. purchased a new stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in Tecnoglass by 15.6% in the 1st quarter. Wellington Management Group LLP now owns 1,883,864 shares of the company's stock valued at $134,790,000 after buying an additional 254,686 shares in the last quarter. American Century Companies Inc. raised its holdings in Tecnoglass by 12.1% in the 1st quarter. American Century Companies Inc. now owns 816,166 shares of the company's stock valued at $58,397,000 after acquiring an additional 87,791 shares during the last quarter. Cooke & Bieler LP raised its holdings in Tecnoglass by 1.6% in the 1st quarter. Cooke & Bieler LP now owns 797,882 shares of the company's stock valued at $57,088,000 after acquiring an additional 12,642 shares during the last quarter. Vanguard Group Inc. raised its holdings in Tecnoglass by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 540,314 shares of the company's stock valued at $38,659,000 after acquiring an additional 22,879 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Tecnoglass by 42.3% in the 1st quarter. Alliancebernstein L.P. now owns 317,303 shares of the company's stock valued at $22,703,000 after acquiring an additional 94,335 shares during the last quarter. 37.35% of the stock is owned by hedge funds and other institutional investors.

Tecnoglass Price Performance

TGLS stock traded up $0.57 during mid-day trading on Monday, reaching $71.15. The company's stock had a trading volume of 27,517 shares, compared to its average volume of 360,580. The stock has a market cap of $3.34 billion, a PE ratio of 22.23 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 fifty-two week low of $60.25 and a fifty-two week high of $90.34. The company's 50 day moving average is $74.79 and its two-hundred day moving average is $75.20.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.03 earnings per share (EPS) for the quarter, topping 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 was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 earnings per share. Tecnoglass has set its FY 2025 guidance at EPS. Equities research analysts expect that Tecnoglass Inc. will post 3.53 EPS for the current year.

Tecnoglass Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. Tecnoglass's dividend payout ratio (DPR) is currently 15.42%.

Tecnoglass 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.