Wolverine Trading LLC Makes New Investment in Tecnoglass Inc. (NASDAQ:TGLS)

Wolverine Trading LLC acquired a new stake in Tecnoglass Inc. (NASDAQ:TGLS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,265 shares of the company’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Amalgamated Bank acquired a new position in Tecnoglass in the 2nd quarter valued at $39,000. Signaturefd LLC lifted its position in Tecnoglass by 4,735.7% during the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after buying an additional 663 shares during the period. X Square Capital LLC boosted its stake in Tecnoglass by 5.7% in the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after buying an additional 237 shares during the last quarter. PFG Investments LLC purchased a new stake in Tecnoglass in the 2nd quarter valued at about $220,000. Finally, Crossmark Global Holdings Inc. increased its stake in shares of Tecnoglass by 3.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock valued at $355,000 after acquiring an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Insider Buying and Selling

In other news, Director Julio A. Torres sold 30,520 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total value of $2,222,771.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the transaction, the insider now directly owns 23,195,988 shares in the company, valued at $1,693,771,043.76. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TGLS. StockNews.com initiated coverage on shares of Tecnoglass in a report on Saturday. They issued a “hold” rating for the company. Robert W. Baird upped their price objective on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a report on Tuesday, October 22nd. DA Davidson upped their price target on Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $77.40.

Tecnoglass Stock Performance

Tecnoglass stock opened at $83.72 on Monday. The firm has a market capitalization of $3.93 billion, a PE ratio of 26.16 and a beta of 1.89. Tecnoglass Inc. has a one year low of $40.49 and a one year high of $86.08. The stock’s 50 day moving average price is $75.66 and its 200 day moving average price is $62.75. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21.

Tecnoglass (NASDAQ:TGLS) last posted its earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.11. The business had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $240.19 million. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 earnings per share. As a group, sell-side analysts expect that Tecnoglass Inc. will post 3.55 EPS for the current fiscal year.

Tecnoglass Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st 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 0.72%. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, December 31st. Tecnoglass’s payout ratio is presently 13.75%.

Tecnoglass Profile

Tecnoglass Inc manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally. The company provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.