Tecnoglass Inc. $TGLS Stock Position Lowered by Owls Nest Partners IA LLC

Owls Nest Partners IA LLC decreased its holdings in shares of Tecnoglass Inc. (NYSE:TGLS) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 846,027 shares of the company’s stock after selling 63,496 shares during the quarter. Tecnoglass comprises approximately 11.8% of Owls Nest Partners IA LLC’s holdings, making the stock its 5th biggest holding. Owls Nest Partners IA LLC’s holdings in Tecnoglass were worth $42,572,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in Tecnoglass by 8.3% in the first quarter. Royal Bank of Canada now owns 3,121 shares of the company’s stock valued at $224,000 after purchasing an additional 238 shares during the period. First Horizon Corp boosted its position in shares of Tecnoglass by 63.3% in the fourth quarter. First Horizon Corp now owns 673 shares of the company’s stock worth $34,000 after buying an additional 261 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Tecnoglass by 2.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 12,459 shares of the company’s stock worth $627,000 after buying an additional 295 shares during the period. Arax Advisory Partners grew its stake in shares of Tecnoglass by 128.4% in the fourth quarter. Arax Advisory Partners now owns 596 shares of the company’s stock valued at $30,000 after buying an additional 335 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of Tecnoglass by 4.2% in the second quarter. Osaic Holdings Inc. now owns 8,349 shares of the company’s stock valued at $647,000 after buying an additional 337 shares in the last quarter. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TGLS shares. Robert W. Baird reduced their price target on Tecnoglass from $62.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 21st. DA Davidson lowered 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. Weiss Ratings lowered shares of Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 20th. Zacks Research cut shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Finally, B. Riley Financial decreased their target price on shares of Tecnoglass from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.33.

Tecnoglass Stock Up 0.2%

Shares of Tecnoglass stock opened at $43.89 on Monday. Tecnoglass Inc. has a 1-year low of $37.52 and a 1-year high of $84.47. The company has a market capitalization of $1.95 billion, a PE ratio of 13.59, a P/E/G ratio of 0.73 and a beta of 1.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.15. The business has a 50-day moving average of $42.78 and a 200-day moving average of $46.95.

Tecnoglass (NYSE:TGLS) last released its quarterly earnings results on Friday, May 8th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. The business had revenue of $249.01 million for the quarter, compared to analysts’ expectations of $243.00 million. Tecnoglass had a return on equity of 21.51% and a net margin of 14.77%.The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 earnings per share. As a group, equities analysts forecast that Tecnoglass Inc. will post 2.73 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Tecnoglass’s dividend payout ratio is presently 13.93%.

Insider Activity at Tecnoglass

In other Tecnoglass news, major shareholder Holding Corp Energy bought 80,879 shares of Tecnoglass 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 purchase, the insider owned 20,812,864 shares in the company, valued at $844,169,763.84. This represents a 0.39% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.06% of the company’s stock.

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.