PDT Partners LLC Has $3.80 Million Stock Holdings in Tecnoglass Inc. $TGLS

Key Points

• PDT Partners LLC significantly increased its stake in Tecnoglass Inc. by 963.3%, acquiring an additional 48,167 shares, bringing its total ownership to 53,167 shares worth approximately $3.8 million.
• Tecnoglass reported a 16.3% increase in quarterly revenue year-over-year, with earnings per share (EPS) of $1.03, surpassing estimates by $0.07.
• The company announced a quarterly dividend of $0.15, resulting in an annualized payout of $0.60 and a dividend yield of 0.8%.

PDT Partners LLC grew its holdings in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 963.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,167 shares of the company's stock after purchasing an additional 48,167 shares during the period. PDT Partners LLC owned approximately 0.11% of Tecnoglass worth $3,804,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JFS Wealth Advisors LLC boosted its holdings in shares of Tecnoglass by 1,350.0% in the first quarter. JFS Wealth Advisors LLC now owns 435 shares of the company's stock worth $31,000 after buying an additional 405 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Tecnoglass in the first quarter worth about $38,000. Entropy Technologies LP acquired a new position in shares of Tecnoglass in the first quarter worth about $200,000. Royal Bank of Canada boosted its holdings in shares of Tecnoglass by 8.3% in the first quarter. Royal Bank of Canada now owns 3,121 shares of the company's stock worth $224,000 after buying an additional 238 shares during the period. Finally, Mariner LLC acquired a new position in shares of Tecnoglass in the fourth quarter worth about $254,000. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, B. Riley assumed coverage on shares of Tecnoglass in a report on Friday, May 16th. They issued a "buy" rating and a $100.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Tecnoglass currently has a consensus rating of "Moderate Buy" and an average target price of $89.00.

Tecnoglass Stock Up 1.0%

Shares of NASDAQ TGLS traded up $0.72 during mid-day trading on Friday, reaching $72.68. The company had a trading volume of 175,694 shares, compared to its average volume of 365,696. The stock has a fifty day moving average of $75.35 and a two-hundred day moving average of $75.16. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 22.71 and a beta of 1.87. Tecnoglass Inc. has a 12-month low of $58.24 and a 12-month high of $90.34.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted 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%. The firm's revenue was up 16.3% compared to the same quarter last year. During the same period last year, the business earned $0.86 earnings per share. Tecnoglass has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Tecnoglass Inc. will post 3.53 EPS for the current year.

Tecnoglass Dividend Announcement

The firm also recently disclosed 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 of this dividend was Monday, June 30th. Tecnoglass's dividend payout ratio (DPR) is presently 15.42%.

About Tecnoglass

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.