UBS Group AG Sells 104,401 Shares of Tecnoglass Inc. $TGLS

Key Points

• UBS Group AG cut its Tecnoglass stake by 56.6% in the fourth quarter, selling 104,401 shares and leaving it with 80,154 shares worth about $4.0 million.
• Institutional interest in Tecnoglass remains active, with several firms significantly increasing holdings; institutional investors now own 37.35% of the company.
• Analyst sentiment is mixed: the stock’s average rating is Hold with a $63.33 average target price, while recent reports have included both price-target cuts and a downgrade to strong sell.

UBS Group AG lessened its stake in shares of Tecnoglass Inc. (NYSE:TGLS - Free Report) by 56.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,154 shares of the company's stock after selling 104,401 shares during the period. UBS Group AG owned about 0.17% of Tecnoglass worth $4,033,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of TGLS. Citigroup Inc. raised its holdings in 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 acquiring an additional 429,590 shares in the last quarter. Jane Street Group LLC raised its holdings in Tecnoglass by 2,640.4% during the second quarter. Jane Street Group LLC now owns 326,113 shares of the company's stock worth $25,228,000 after acquiring an additional 314,213 shares in the last quarter. Millennium Management LLC raised its holdings in Tecnoglass by 352.1% during the third quarter. Millennium Management LLC now owns 181,745 shares of the company's stock worth $12,161,000 after acquiring an additional 141,542 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in Tecnoglass by 151.4% during the third quarter. Voloridge Investment Management LLC now owns 219,072 shares of the company's stock worth $14,658,000 after acquiring an additional 131,933 shares in the last quarter. Finally, Capital World Investors raised its holdings in Tecnoglass by 6.2% during 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 in the last quarter. Institutional investors own 37.35% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity at Tecnoglass

In other news, Director Anne Louise Carricarte bought 1,100 shares of the firm's stock in a transaction dated Friday, March 6th. The shares were bought at an average price of $43.27 per share, with a total value of $47,597.00. Following the completion of the transaction, the director owned 1,100 shares of the company's stock, valued at $47,597. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Holding Corp Energy bought 107,629 shares of the firm's stock in a transaction dated Friday, March 13th. The stock was purchased at an average cost of $45.11 per share, for a total transaction of $4,855,144.19. Following the transaction, the insider directly owned 20,731,985 shares of the company's stock, valued at $935,219,843.35. The trade was a 0.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 622,995 shares of company stock worth $26,962,660 in the last ninety days. 0.06% of the stock is owned by company insiders.

Tecnoglass Price Performance

Tecnoglass stock opened at $41.06 on Friday. Tecnoglass Inc. has a 12 month low of $37.52 and a 12 month high of $90.34. The stock's 50 day moving average is $42.83 and its 200-day moving average is $47.57. The company has a current ratio of 1.77, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 0.68 and a beta of 1.42.

Tecnoglass (NYSE:TGLS - Get Free Report) last posted its 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 return on equity of 21.51% and a net margin of 14.77%.The company had revenue of $249.01 million for the quarter, compared to the consensus estimate of $243.00 million. During the same quarter in the prior year, the business earned $0.92 earnings per share. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. Equities research analysts expect that Tecnoglass Inc. will post 2.73 EPS for the current year.

Tecnoglass Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.5%. Tecnoglass's dividend payout ratio is presently 18.58%.

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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