Tecnoglass Inc. (NASDAQ:TGLS) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,649 shares of the company’s stock after selling 361 shares during the quarter. M&T Bank Corp’s holdings in Tecnoglass were worth $319,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TGLS. Amalgamated Bank purchased a new position in Tecnoglass during the 2nd quarter worth $39,000. Signaturefd LLC lifted its position 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 purchasing an additional 663 shares during the period. X Square Capital LLC boosted its holdings in 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 purchasing an additional 237 shares in the last quarter. PFG Investments LLC acquired a new position in Tecnoglass during the 2nd quarter worth approximately $220,000. Finally, Wolverine Trading LLC purchased a new position in shares of Tecnoglass during the 3rd quarter worth approximately $225,000. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TGLS has been the topic of a number of analyst reports. B. Riley restated a “neutral” rating and issued a $72.00 price target (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Sidoti lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research report on Tuesday, October 22nd. Robert W. Baird increased their price target on shares of Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, November 8th. StockNews.com began coverage on shares of Tecnoglass in a report on Saturday, December 14th. They set a “hold” rating on the stock. Finally, DA Davidson increased their target price on shares of Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a 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 data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $77.40.

Tecnoglass Price Performance

Shares of NASDAQ TGLS opened at $78.78 on Thursday. 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 stock has a market cap of $3.70 billion, a price-to-earnings ratio of 24.62 and a beta of 1.89. The company’s 50-day moving average price is $76.15 and its 200 day moving average price is $63.18. Tecnoglass Inc. has a 52 week low of $40.94 and a 52 week high of $86.08.

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

Tecnoglass Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.76%. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, December 31st. Tecnoglass’s payout ratio is 18.75%.

Insider Activity

In other news, Director Julio A. Torres sold 30,520 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Tecnoglass Company 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.