Tecnoglass Inc. $TGLS Shares Purchased by Northern Trust Corp

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 boosted its stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 9.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 219,526 shares of the company's stock after buying an additional 18,251 shares during the quarter. Northern Trust Corp owned approximately 0.47% of Tecnoglass worth $15,707,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of TGLS. JFS Wealth Advisors LLC raised its holdings in Tecnoglass by 1,350.0% in the 1st quarter. JFS Wealth Advisors LLC now owns 435 shares of the company's stock valued at $31,000 after acquiring an additional 405 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Tecnoglass in the 1st quarter valued at $38,000. Entropy Technologies LP acquired a new position in Tecnoglass in the 1st quarter valued at $200,000. SkyOak Wealth LLC acquired a new position in Tecnoglass in the 1st quarter valued at $244,000. Finally, Mariner LLC acquired a new position in Tecnoglass in the 4th quarter valued at $254,000. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, B. Riley initiated coverage on Tecnoglass in a report on Friday, May 16th. They issued a "buy" rating and a $100.00 price target for the company. One 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. According to MarketBeat.com, Tecnoglass has an average rating of "Moderate Buy" and a consensus target price of $89.00.

Tecnoglass Trading Up 1.0%

Shares of TGLS stock traded up $0.72 on Friday, reaching $72.68. 175,694 shares of the stock were exchanged, compared to its average volume of 365,696. The stock has a market cap of $3.41 billion, a P/E ratio of 22.71 and a beta of 1.87. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $75.35 and a two-hundred day moving average of $75.16. Tecnoglass Inc. has a 1-year low of $58.24 and a 1-year high of $90.34.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.07. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%.The company's revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.86 earnings per share. Tecnoglass has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Tecnoglass Inc. will post 3.53 EPS for the current year.

Tecnoglass Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, June 30th. Tecnoglass's dividend 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.