Tecnoglass Inc. $TGLS Shares Sold by Capital World Investors

Key Points

• Capital World Investors cut its Tecnoglass stake by 39.1% in the fourth quarter, selling 701,017 shares and leaving it with 1,093,255 shares valued at about $55 million.
• Tecnoglass reported better-than-expected quarterly results, earning $0.78 per share versus estimates of $0.72 and posting revenue of $249.01 million, up 12% year over year.
• The company also paid a quarterly dividend of $0.15 per share, while analysts remain mixed on the stock with a consensus rating of Hold and an average price target of $63.33.

Capital World Investors cut its holdings in shares of Tecnoglass Inc. (NYSE:TGLS - Free Report) by 39.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,093,255 shares of the company's stock after selling 701,017 shares during the period. Capital World Investors owned 2.35% of Tecnoglass worth $55,013,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Tecnoglass by 53.4% during the third quarter. JPMorgan Chase & Co. now owns 33,460 shares of the company's stock worth $2,239,000 after purchasing an additional 11,649 shares in the last quarter. Citigroup Inc. increased its position in shares of Tecnoglass by 445.3% during the third quarter. Citigroup Inc. now owns 526,061 shares of the company's stock worth $35,199,000 after purchasing an additional 429,590 shares in the last quarter. American Century Companies Inc. increased its position in shares of Tecnoglass by 9.6% during the third quarter. American Century Companies Inc. now owns 1,022,101 shares of the company's stock worth $68,389,000 after purchasing an additional 89,175 shares in the last quarter. Denali Advisors LLC acquired a new position in shares of Tecnoglass during the fourth quarter worth $1,702,000. Finally, Thompson Siegel & Walmsley LLC increased its position in shares of Tecnoglass by 263.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 76,300 shares of the company's stock worth $3,839,000 after purchasing an additional 55,300 shares in the last quarter. 37.35% of the stock is owned by institutional investors and hedge funds.

Tecnoglass Price Performance

NYSE:TGLS opened at $43.66 on Wednesday. Tecnoglass Inc. has a one year low of $37.52 and a one year high of $89.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.77. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.70 and a beta of 1.42. The firm's fifty day moving average is $42.84 and its two-hundred day moving average is $47.02.

Tecnoglass (NYSE:TGLS - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.72 by $0.06. Tecnoglass had a net margin of 14.77% and a return on equity of 21.51%. The company had revenue of $249.01 million for the quarter, compared to analyst estimates of $243.00 million. During the same period in the prior year, the company earned $0.92 earnings per share. The firm's revenue was up 12.0% on a year-over-year basis. Research analysts expect that Tecnoglass Inc. will post 2.73 EPS for the current year.

Tecnoglass Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, March 31st. Tecnoglass's dividend payout ratio is presently 13.93%.

Insider Activity

In other news, major shareholder Holding Corp Energy bought 19,121 shares of the stock in a transaction dated Friday, May 15th. The shares were acquired at an average cost of $40.27 per share, with a total value of $770,002.67. Following the purchase, the insider directly owned 20,831,985 shares in the company, valued at $838,904,035.95. The trade was a 0.09% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have bought 315,229 shares of company stock worth $13,777,727. Corporate insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

TGLS has been the topic of a number of recent analyst reports. Weiss Ratings downgraded Tecnoglass from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, May 20th. DA Davidson reduced their price target on Tecnoglass from $80.00 to $70.00 and set a "buy" rating on the stock in a research report on Monday, March 2nd. Robert W. Baird reduced their price target on Tecnoglass from $62.00 to $55.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 21st. Zacks Research lowered shares of Tecnoglass from a "hold" rating to a "strong sell" rating in a report on Monday, March 2nd. Finally, B. Riley Financial dropped their price objective on shares of Tecnoglass from $70.00 to $65.00 and set a "buy" rating on the stock in a report on Friday, March 6th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $63.33.

About Tecnoglass

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company's product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.

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