Tecnoglass (NYSE:TGLS) Major Shareholder Holding Corp Energy Acquires 107,629 Shares of Stock

Tecnoglass Inc. (NYSE:TGLS) major shareholder Holding Corp Energy purchased 107,629 shares of the company’s stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $45.11 per share, for a total transaction of $4,855,144.19. Following the completion of the transaction, the insider owned 20,731,985 shares in the company, valued at approximately $935,219,843.35. This trade represents a 0.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Holding Corp Energy also recently made the following trade(s):

• On Thursday, March 12th, Holding Corp Energy acquired 107,600 shares of Tecnoglass stock. The stock was acquired at an average cost of $45.28 per share, with a total value of $4,872,128.00.
• On Wednesday, March 11th, Holding Corp Energy purchased 92,066 shares of Tecnoglass stock. The stock was bought at an average price of $44.24 per share, for a total transaction of $4,072,999.84.
• On Tuesday, March 10th, Holding Corp Energy bought 107,600 shares of Tecnoglass stock. The shares were purchased at an average cost of $43.41 per share, for a total transaction of $4,670,916.00.
• On Monday, March 9th, Holding Corp Energy acquired 107,000 shares of Tecnoglass stock. The shares were purchased at an average price of $41.06 per share, for a total transaction of $4,393,420.00.

Tecnoglass Trading Down 4.0%

Shares of Tecnoglass stock opened at $43.89 on Tuesday. Tecnoglass Inc. has a 52-week low of $40.09 and a 52-week high of $90.34. The firm has a market capitalization of $1.96 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 0.58 and a beta of 1.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.25. The company’s fifty day moving average price is $49.58 and its two-hundred day moving average price is $55.23.

Tecnoglass (NYSE:TGLS) last posted its earnings results on Thursday, February 26th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.21). The company had revenue of $245.30 million for the quarter. Tecnoglass had a return on equity of 23.05% and a net margin of 16.22%.Tecnoglass’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TGLS shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Tecnoglass in a research note on Monday, December 22nd. DA Davidson cut their price objective on Tecnoglass from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Zacks Research lowered Tecnoglass from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Finally, B. Riley Financial lowered their target price on Tecnoglass from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Tecnoglass has an average rating of “Hold” and a consensus target price of $67.50.

Institutional Trading of Tecnoglass

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital World Investors lifted its position in Tecnoglass by 6.2% during the 3rd quarter. Capital World Investors now owns 1,794,272 shares of the company’s stock valued at $120,055,000 after purchasing an additional 104,132 shares during the period. First Trust Advisors LP boosted its stake in shares of Tecnoglass by 17.8% in the 4th quarter. First Trust Advisors LP now owns 1,209,419 shares of the company’s stock valued at $60,858,000 after purchasing an additional 182,449 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Tecnoglass by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,081,541 shares of the company’s stock worth $54,427,000 after buying an additional 58,975 shares during the period. American Century Companies Inc. grew its position in shares of Tecnoglass by 9.6% during the 3rd quarter. American Century Companies Inc. now owns 1,022,101 shares of the company’s stock worth $68,389,000 after buying an additional 89,175 shares during the period. Finally, William Blair Investment Management LLC raised its stake in shares of Tecnoglass by 2.2% during the third quarter. William Blair Investment Management LLC now owns 937,463 shares of the company’s stock worth $62,726,000 after buying an additional 20,071 shares during the last quarter. 37.35% of the stock is owned by institutional investors.

Tecnoglass Company Profile

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.