Tecnoglass (NYSE:TGLS) Major Shareholder Acquires $3,280,452.24 in Stock

Key Points

• Tecnoglass major shareholder Holding Corp Energy bought 80,879 shares on May 14 for about $3.28 million, increasing its stake by 0.39% to 20.8 million shares.
• The company reported strong quarterly results, with EPS of $0.78 beating estimates and revenue of $249.01 million topping expectations; revenue rose 12% year over year.
• Despite the solid earnings, analyst sentiment is mixed: the consensus rating is Hold with an average price target of $63.33, while several firms have recently cut their targets.

Tecnoglass Inc. (NYSE:TGLS - Get Free Report) major shareholder Holding Corp Energy purchased 80,879 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $40.56 per share, for a total transaction of $3,280,452.24. Following the completion of the purchase, the insider directly owned 20,812,864 shares of the company's stock, valued at $844,169,763.84. The trade was a 0.39% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Holding Corp Energy also recently made the following trade(s):

• On Friday, May 15th, Holding Corp Energy acquired 19,121 shares of Tecnoglass stock. The stock was acquired at an average price of $40.27 per share, with a total value of $770,002.67.
• On Friday, March 13th, Holding Corp Energy acquired 107,629 shares of Tecnoglass stock. The stock was acquired at an average price of $45.11 per share, with a total value of $4,855,144.19.
• On Thursday, March 12th, Holding Corp Energy acquired 107,600 shares of Tecnoglass stock. The stock was acquired at an average price of $45.28 per share, with a total value of $4,872,128.00.
• On Wednesday, March 11th, Holding Corp Energy acquired 92,066 shares of Tecnoglass stock. The stock was acquired at an average price of $44.24 per share, with a total value of $4,072,999.84.
• On Tuesday, March 10th, Holding Corp Energy acquired 107,600 shares of Tecnoglass stock. The stock was acquired at an average price of $43.41 per share, with a total value of $4,670,916.00.
• On Monday, March 9th, Holding Corp Energy acquired 107,000 shares of Tecnoglass stock. The stock was acquired at an average price of $41.06 per share, with a total value of $4,393,420.00.

Tecnoglass Trading Up 0.1%

Shares of NYSE:TGLS opened at $38.65 on Monday. The company has a current ratio of 1.77, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. Tecnoglass Inc. has a 1 year low of $37.52 and a 1 year high of $90.34. The firm has a fifty day moving average price of $43.10 and a 200 day moving average price of $48.15. The stock has a market capitalization of $1.71 billion, a PE ratio of 11.96, a P/E/G ratio of 0.64 and a beta of 1.42.

Tecnoglass (NYSE:TGLS - Get Free Report) last released its quarterly earnings results 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 net margin of 14.77% and a return on equity of 21.51%. The company had revenue of $249.01 million during the quarter, compared to analysts' expectations of $243.00 million. During the same period in the prior year, the company earned $0.92 earnings per share. The business's quarterly revenue was up 12.0% compared to the same quarter last year. Analysts expect that Tecnoglass Inc. will post 2.73 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, March 31st. Tecnoglass's dividend payout ratio is 18.58%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. DA Davidson cut their price objective on shares of Tecnoglass from $80.00 to $70.00 and set a "buy" rating for the company in a research report on Monday, March 2nd. Robert W. Baird cut their price objective on shares of Tecnoglass from $62.00 to $55.00 and set an "outperform" rating for the company in a research report on Tuesday, April 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tecnoglass in a research report on Friday, April 10th. B. Riley Financial cut their price objective 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. Finally, Zacks Research lowered shares of Tecnoglass from a "hold" rating to a "strong sell" rating in a research report on Monday, March 2nd. 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 MarketBeat, Tecnoglass has a consensus rating of "Hold" and an average price target of $63.33.

Hedge Funds Weigh In On Tecnoglass

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Horizon Corp bought a new position in shares of Tecnoglass during the third quarter worth $28,000. Kemnay Advisory Services Inc. bought a new position in shares of Tecnoglass during the fourth quarter worth $28,000. Arax Advisory Partners boosted its position in shares of Tecnoglass by 128.4% during the fourth quarter. Arax Advisory Partners now owns 596 shares of the company's stock worth $30,000 after purchasing an additional 335 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Tecnoglass by 290.2% during the third quarter. Federated Hermes Inc. now owns 597 shares of the company's stock worth $40,000 after purchasing an additional 444 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Tecnoglass by 444.0% during the first quarter. Parallel Advisors LLC now owns 952 shares of the company's stock worth $42,000 after purchasing an additional 777 shares in the last quarter. 37.35% of the stock is owned by institutional investors.

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.

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.