Tecnoglass Inc. $TGLS Shares Purchased by PDT Partners LLC

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 13F filing with the Securities and Exchange Commission. The fund owned 53,167 shares of the company's stock after buying an additional 48,167 shares during the quarter. PDT Partners LLC owned 0.11% of Tecnoglass worth $3,804,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TGLS. JFS Wealth Advisors LLC boosted its stake in shares of Tecnoglass by 1,350.0% during the 1st quarter. JFS Wealth Advisors LLC now owns 435 shares of the company's stock valued at $31,000 after buying an additional 405 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Tecnoglass during the 1st quarter valued at approximately $38,000. Entropy Technologies LP purchased a new position in shares of Tecnoglass during the 1st quarter valued at approximately $200,000. Royal Bank of Canada boosted its stake in shares of Tecnoglass by 8.3% during the 1st quarter. Royal Bank of Canada now owns 3,121 shares of the company's stock valued at $224,000 after buying an additional 238 shares during the last quarter. Finally, SkyOak Wealth LLC purchased a new position in shares of Tecnoglass during the 1st quarter valued at approximately $244,000. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Tecnoglass Stock Performance

TGLS stock 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 company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $3.41 billion, a P/E ratio of 22.71 and a beta of 1.87. Tecnoglass Inc. has a one year low of $58.24 and a one year high of $90.34. The stock's 50-day simple moving average is $75.35 and its two-hundred day simple moving average is $75.12.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.03 earnings per share (EPS) for the quarter, beating 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%.Tecnoglass's revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 EPS. Tecnoglass has set its FY 2025 guidance at EPS. Research analysts anticipate that Tecnoglass Inc. will post 3.53 EPS for the current year.

Tecnoglass Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were paid 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 payout ratio is currently 15.42%.

Analyst Ratings Changes

Separately, B. Riley initiated 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 equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.