Tecnoglass (NYSE:TGLS) Reaches New 1-Year Low – Time to Sell?

Tecnoglass Inc. (NYSE:TGLS)’s stock price hit a new 52-week low on Monday . The company traded as low as $37.29 and last traded at $37.2850, with a volume of 82822 shares. The stock had previously closed at $38.32.

Analysts Set New Price Targets

Several research firms have issued reports on TGLS. Zacks Research raised Tecnoglass from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Tecnoglass in a research note on Monday, August 17th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.33.

Tecnoglass Trading Down 2.8%

The company has a current ratio of 1.86, a quick ratio of 1.17 and a debt-to-equity ratio of 0.28. The stock has a market cap of $1.65 billion and a price-to-earnings ratio of 13.11. The company has a fifty day simple moving average of $42.66 and a 200-day simple moving average of $43.28.

Tecnoglass (NYSE:TGLS) last announced its earnings results on Thursday, August 6th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. Tecnoglass had a net margin of 12.35% and a return on equity of 17.84%. The company had revenue of $295.29 million during the quarter. During the same quarter in the previous year, the business earned $1.03 earnings per share. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, research analysts forecast that Tecnoglass Inc. will post 2.58 earnings per share for the current fiscal year.

Tecnoglass Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Wednesday, September 30th. Tecnoglass’s dividend payout ratio is 21.13%.

Hedge Funds Weigh In On Tecnoglass

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fourth Sail Capital LP purchased a new position in Tecnoglass during the 4th quarter worth approximately $17,461,000. Jane Street Group LLC boosted its position in shares of Tecnoglass by 2,640.4% in the second quarter. Jane Street Group LLC now owns 326,113 shares of the company’s stock worth $25,228,000 after buying an additional 314,213 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Tecnoglass by 195.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 285,426 shares of the company’s stock worth $14,363,000 after buying an additional 188,975 shares during the period. First Trust Advisors LP boosted its position in shares of Tecnoglass by 17.8% in the fourth quarter. First Trust Advisors LP now owns 1,209,419 shares of the company’s stock worth $60,858,000 after buying an additional 182,449 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Tecnoglass by 15.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,243,496 shares of the company’s stock valued at $55,395,000 after buying an additional 161,955 shares in the last quarter. Institutional investors and hedge funds 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.