Tecnoglass (NYSE:TGLS) Reaches New 52-Week Low - Here's What Happened

Key Points

• Tecnoglass shares fell to a new 52-week low of $35.58, with the stock last trading near $35.95 and below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: Weiss Ratings downgraded the stock to “sell,” while Zacks Research upgraded it to “hold.” The overall consensus rating is “Hold,” with an average price target of $63.33.
• Tecnoglass reported quarterly revenue growth of 15.6% year over year and earnings of $0.54 per share, beating estimates, and announced a quarterly dividend of $0.15 per share, yielding about 1.7% annually.

Tecnoglass Inc. (NYSE:TGLS - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $35.58 and last traded at $35.95, with a volume of 424565 shares changing hands. The stock had previously closed at $35.77.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings cut shares of Tecnoglass from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday. Zacks Research upgraded shares of Tecnoglass from a "strong sell" rating to a "hold" rating in a research report on Friday, June 12th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $63.33.

Tecnoglass Stock Up 1.4%

The company has a quick ratio of 1.17, a current ratio of 1.86 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $1.61 billion and a P/E ratio of 12.77. The company has a fifty day moving average price of $41.92 and a 200-day moving average price of $42.90.

Tecnoglass (NYSE:TGLS - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. Tecnoglass had a return on equity of 17.84% and a net margin of 12.35%.The company had revenue of $295.29 million during the quarter. During the same period in the previous year, the company posted $1.03 earnings per share. Tecnoglass's quarterly revenue was up 15.6% on a year-over-year basis. As a group, research analysts forecast that Tecnoglass Inc. will post 2.57 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, September 30th. Tecnoglass's dividend payout ratio is currently 21.13%.

Institutional Investors Weigh In On Tecnoglass

A number of hedge funds have recently bought and sold shares of TGLS. State of Wyoming grew its holdings in shares of Tecnoglass by 53.1% in the first quarter. State of Wyoming now owns 1,415 shares of the company's stock worth $63,000 after purchasing an additional 491 shares during the last quarter. X Square Capital LLC lifted its holdings in Tecnoglass by 6.9% during the 4th quarter. X Square Capital LLC now owns 7,764 shares of the company's stock valued at $391,000 after buying an additional 501 shares in the last quarter. Parallel Advisors LLC boosted its position in Tecnoglass by 444.0% in the 1st quarter. Parallel Advisors LLC now owns 952 shares of the company's stock valued at $42,000 after buying an additional 777 shares during the period. ProShare Advisors LLC grew its stake in Tecnoglass by 19.1% in the 4th quarter. ProShare Advisors LLC now owns 4,958 shares of the company's stock worth $249,000 after acquiring an additional 796 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in Tecnoglass by 276.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,359 shares of the company's stock worth $68,000 after acquiring an additional 998 shares in the last quarter. Hedge funds and other institutional investors own 37.35% of the company's stock.

Tecnoglass Company Profile

Tecnoglass Inc is a manufacturer of architectural glass, windows and aluminum products for residential and commercial construction. The company produces impact-resistant and non-impact windows and doors, insulated and laminated glass, curtain-wall systems, storefronts, and aluminum profiles and framing systems.

Founded in 1994, Tecnoglass is headquartered in Barranquilla, Colombia, where it operates a vertically integrated manufacturing platform. Its products are used in new construction and renovation projects, including high-rise buildings, multifamily housing, commercial properties and single-family homes.

Tecnoglass serves customers primarily in the United States, as well as in Colombia and other international markets across Latin America and the Caribbean.

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