Tudor Investment Corp ET AL Reduces Stake in Tecnoglass Inc. $TGLS

Key Points

• Tudor Investment Corp cut its stake in Tecnoglass by 75.5% in Q3, selling 158,957 shares and now holding 51,712 shares worth $3.46 million (0.11% of the company).
• Insiders have been buying: Holding Corp Energy purchased 107,629 shares at $45.11 (raising its stake to 20,731,985 shares) and insiders acquired 522,995 shares worth $22.9 million over the last three months.
• Tecnoglass missed quarterly EPS estimates ($0.63 vs. $0.84) on $245.3M revenue (up 3% YoY), announced a $0.15 quarterly dividend (1.4% yield), and trades around $42 with a $1.89B market cap.

Tudor Investment Corp ET AL cut its position in shares of Tecnoglass Inc. (NYSE:TGLS - Free Report) by 75.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,712 shares of the company's stock after selling 158,957 shares during the quarter. Tudor Investment Corp ET AL owned 0.11% of Tecnoglass worth $3,460,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of TGLS. First Horizon Corp purchased a new position in shares of Tecnoglass in the third quarter valued at $28,000. Federated Hermes Inc. boosted its position in shares of Tecnoglass by 290.2% in the 3rd quarter. Federated Hermes Inc. now owns 597 shares of the company's stock worth $40,000 after buying an additional 444 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Tecnoglass by 223.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company's stock valued at $43,000 after acquiring an additional 440 shares during the last quarter. Covestor Ltd increased its holdings in Tecnoglass by 52.9% during the 3rd quarter. Covestor Ltd now owns 2,282 shares of the company's stock valued at $153,000 after acquiring an additional 790 shares in the last quarter. Finally, State of Wyoming purchased a new position in Tecnoglass during the 3rd quarter valued at about $178,000. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tecnoglass

In related news, major shareholder Holding Corp Energy acquired 107,629 shares of the company's stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $45.11 per share, with a total value of $4,855,144.19. Following the purchase, the insider directly owned 20,731,985 shares in the company, valued at $935,219,843.35. The trade was a 0.52% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anne Louise Carricarte acquired 1,100 shares of the business's stock in a transaction dated Friday, March 6th. The shares were bought at an average price 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 approximately $47,597. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders acquired 522,995 shares of company stock worth $22,912,205. 0.06% of the stock is owned by corporate insiders.

Tecnoglass Stock Up 0.7%

Shares of NYSE TGLS opened at $42.16 on Friday. The firm has a market cap of $1.89 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 0.53 and a beta of 1.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.25 and a current ratio of 1.86. Tecnoglass Inc. has a 1 year low of $39.53 and a 1 year high of $90.34. The firm's 50 day moving average price is $48.03 and its 200 day moving average price is $53.81.

Tecnoglass (NYSE:TGLS - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.21). Tecnoglass had a net margin of 16.22% and a return on equity of 23.05%. The business had revenue of $245.30 million during the quarter. During the same period in the previous year, the business earned $1.05 EPS. The business's revenue was up 3.0% compared to the same quarter last year.

Tecnoglass Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.60 annualized dividend and a yield of 1.4%. Tecnoglass's dividend payout ratio is 17.54%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. B. Riley Financial cut their target price on shares of Tecnoglass from $70.00 to $65.00 and set a "buy" rating for the company in a research report on Friday, March 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Tecnoglass in a research note on Monday, December 22nd. DA Davidson cut their price objective on Tecnoglass from $80.00 to $70.00 and set a "buy" rating for the company in a research report on Monday, March 2nd. Finally, Zacks Research lowered Tecnoglass from a "hold" rating to a "strong sell" rating in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $67.50.

Tecnoglass Company 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.

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