Northern Trust Corp Purchases 18,251 Shares of Tecnoglass Inc. $TGLS

Key Points

• Northern Trust Corp increased its holdings in Tecnoglass Inc. by 9.1%, acquiring an additional 18,251 shares in the first quarter, bringing its total ownership to 219,526 shares valued at approximately $15.7 million.
• Analysts have assigned Tecnoglass a consensus rating of "Moderate Buy", with a price target of $89.00 and some analysts giving a buy rating with targets as high as $100.00.
• Tecnoglass recently achieved a quarterly earnings surprise, reporting $1.03 EPS, exceeding the consensus estimate by $0.07 and reflecting a 16.3% year-over-year revenue growth.

Northern Trust Corp grew its position in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 9.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 219,526 shares of the company's stock after buying an additional 18,251 shares during the period. Northern Trust Corp owned 0.47% of Tecnoglass worth $15,707,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Mariner LLC purchased a new stake in Tecnoglass during the fourth quarter valued at about $254,000. Hsbc Holdings PLC bought a new stake in shares of Tecnoglass in the fourth quarter valued at approximately $272,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Tecnoglass by 20.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,832 shares of the company's stock valued at $701,000 after buying an additional 1,474 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Tecnoglass during the 4th quarter valued at approximately $1,003,000. Finally, Deutsche Bank AG boosted its holdings in Tecnoglass by 50.6% in the 4th quarter. Deutsche Bank AG now owns 18,226 shares of the company's stock worth $1,446,000 after buying an additional 6,127 shares during the period. Hedge funds and other institutional investors own 37.35% of the company's stock.

Wall Street Analyst Weigh In

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

Tecnoglass Stock Performance

Tecnoglass stock opened at $70.88 on Wednesday. Tecnoglass Inc. has a 1-year low of $58.24 and a 1-year high of $90.34. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $3.33 billion, a PE ratio of 22.15 and a beta of 1.87. The firm's 50 day simple moving average is $75.63 and its 200 day simple moving average is $75.19.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.96 by $0.07. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The business's revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 earnings per share. Tecnoglass has set its FY 2025 guidance at EPS. As a group, analysts expect that Tecnoglass Inc. will post 3.53 earnings per share for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, June 30th. Tecnoglass's payout ratio is presently 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.

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