Thompson Siegel & Walmsley LLC Acquires 55,300 Shares of Tecnoglass Inc. $TGLS

Key Points

• Thompson Siegel & Walmsley increased its Tecnoglass stake by 263.3% in the fourth quarter, buying 55,300 additional shares and bringing its total to 76,300 shares worth about $3.84 million.
• Tecnoglass reported strong quarterly results, with EPS of $0.78 beating estimates and revenue of $249.01 million topping expectations, while revenue rose 12% year over year.
• The company also highlighted shareholder returns and insider buying, including a $0.15 quarterly dividend and significant insider purchases, even as analysts remained mixed with an average rating of Hold.

Thompson Siegel & Walmsley LLC lifted its holdings in Tecnoglass Inc. (NYSE:TGLS - Free Report) by 263.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,300 shares of the company's stock after acquiring an additional 55,300 shares during the period. Thompson Siegel & Walmsley LLC owned 0.16% of Tecnoglass worth $3,839,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of Tecnoglass by 53.4% in the third quarter. JPMorgan Chase & Co. now owns 33,460 shares of the company's stock worth $2,239,000 after acquiring an additional 11,649 shares during the period. American Century Companies Inc. boosted its stake in shares of Tecnoglass by 9.6% in the third quarter. American Century Companies Inc. now owns 1,022,101 shares of the company's stock worth $68,389,000 after acquiring an additional 89,175 shares during the period. Citigroup Inc. boosted its stake in shares of Tecnoglass by 445.3% in the third quarter. Citigroup Inc. now owns 526,061 shares of the company's stock worth $35,199,000 after acquiring an additional 429,590 shares during the period. Capital World Investors boosted its stake in shares of Tecnoglass by 6.2% in the third quarter. Capital World Investors now owns 1,794,272 shares of the company's stock worth $120,055,000 after acquiring an additional 104,132 shares during the period. Finally, Denali Advisors LLC bought a new position in shares of Tecnoglass in the fourth quarter worth about $1,702,000. Institutional investors own 37.35% of the company's stock.

Tecnoglass Trading Up 0.6%

Shares of TGLS stock opened at $43.83 on Wednesday. Tecnoglass Inc. has a 1 year low of $37.52 and a 1 year high of $90.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.15. The stock's 50 day simple moving average is $42.66 and its two-hundred day simple moving average is $47.12. The company has a market cap of $1.94 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.72 and a beta of 1.42.

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

Tecnoglass Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.4%. Tecnoglass's dividend payout ratio is 18.58%.

Insider Activity at Tecnoglass

In other Tecnoglass news, Director Anne Louise Carricarte purchased 1,100 shares of Tecnoglass stock in a transaction dated Friday, March 6th. The shares were purchased at an average cost of $43.27 per share, for a total transaction of $47,597.00. Following the completion of the acquisition, the director owned 1,100 shares in the company, valued at $47,597. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Holding Corp Energy purchased 19,121 shares of Tecnoglass stock in a transaction dated Friday, May 15th. The stock was acquired at an average price of $40.27 per share, for a total transaction of $770,002.67. Following the completion of the acquisition, the insider owned 20,831,985 shares of the company's stock, valued at approximately $838,904,035.95. This trade represents a 0.09% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 622,995 shares of company stock worth $26,962,660. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

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

Tecnoglass Profile

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.

Want to see what other hedge funds are holding TGLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tecnoglass Inc. (NYSE:TGLS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.