Tidal Investments LLC Invests $585,000 in Tecnoglass Inc. (NASDAQ:TGLS)

Tidal Investments LLC purchased a new stake in Tecnoglass Inc. (NASDAQ:TGLS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,521 shares of the company’s stock, valued at approximately $585,000.

A number of other hedge funds have also recently added to or reduced their stakes in TGLS. Signaturefd LLC lifted its stake in Tecnoglass by 4,735.7% in the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after acquiring an additional 663 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of Tecnoglass in the 2nd quarter valued at $39,000. Wolverine Trading LLC acquired a new position in Tecnoglass during the third quarter worth $225,000. X Square Capital LLC raised its stake in shares of Tecnoglass by 5.7% in the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after acquiring an additional 237 shares in the last quarter. Finally, PFG Investments LLC acquired a new stake in Tecnoglass in the 2nd quarter worth approximately $220,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total value of $104,573,402.40. Following the completion of the transaction, the insider now owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. The trade was a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Julio A. Torres sold 30,520 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total value of $2,222,771.60. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Tecnoglass Stock Performance

Shares of NASDAQ TGLS opened at $80.06 on Monday. Tecnoglass Inc. has a one year low of $40.94 and a one year high of $86.08. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $76.52 and a 200 day simple moving average of $63.79. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 25.02 and a beta of 1.89.

Tecnoglass (NASDAQ:TGLS) last posted its earnings results on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, beating 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 firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Sell-side analysts expect that Tecnoglass Inc. will post 3.55 EPS for the current year.

Tecnoglass Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.75%. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, December 31st. Tecnoglass’s dividend payout ratio is 18.75%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Robert W. Baird increased their price target on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Sidoti lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research report on Tuesday, October 22nd. B. Riley reiterated a “neutral” rating and issued a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Raymond James downgraded Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Finally, DA Davidson increased their price objective on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $77.40.

About Tecnoglass

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.