Tecnoglass (NYSE:TGLS) Reaches New 52-Week Low – What’s Next?

Tecnoglass Inc. (NYSE:TGLS) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $39.37 and last traded at $39.8450, with a volume of 335578 shares trading hands. The stock had previously closed at $42.44.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. DA Davidson decreased their target price on Tecnoglass from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Robert W. Baird cut their price target on Tecnoglass from $62.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. Zacks Research cut Tecnoglass from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. B. Riley Financial cut their price target on Tecnoglass from $70.00 to $65.00 and set a “buy” rating for the company in a report on Friday, March 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tecnoglass in a report on Friday, April 10th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Tecnoglass presently has an average rating of “Hold” and an average price target of $63.33.

Tecnoglass Price Performance

The firm has a market cap of $1.78 billion, a PE ratio of 11.65, a PEG ratio of 0.74 and a beta of 1.42. The firm has a fifty day simple moving average of $43.96 and a two-hundred day simple moving average of $49.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.25 and a current ratio of 1.86.

Tecnoglass (NYSE:TGLS) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.06. The business had revenue of $249.01 million during the quarter, compared to analysts’ expectations of $243.00 million. Tecnoglass had a return on equity of 23.05% and a net margin of 16.22%.The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. Equities analysts predict that Tecnoglass Inc. will post 2.72 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st were issued a $0.15 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.5%. Tecnoglass’s payout ratio is 17.54%.

Insider Buying and Selling

In related news, major shareholder Holding Corp Energy bought 107,629 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was purchased at an average price of $45.11 per share, for a total transaction of $4,855,144.19. Following the acquisition, the insider owned 20,731,985 shares in the company, valued at $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 is available at this hyperlink. Also, Director Anne Louise Carricarte bought 1,100 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was bought at an average price of $43.27 per share, with a total value of $47,597.00. Following the acquisition, the director owned 1,100 shares in the company, valued at approximately $47,597. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 522,995 shares of company stock valued at $22,912,205. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Tecnoglass

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Capital World Investors boosted its holdings in shares of Tecnoglass by 6.2% in the 3rd quarter. Capital World Investors now owns 1,794,272 shares of the company’s stock worth $120,055,000 after purchasing an additional 104,132 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Tecnoglass by 15.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,243,496 shares of the company’s stock worth $55,395,000 after purchasing an additional 161,955 shares during the period. First Trust Advisors LP boosted its holdings 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 worth $60,858,000 after purchasing an additional 182,449 shares during the period. American Century Companies Inc. boosted its holdings in shares of Tecnoglass by 9.6% in the 3rd quarter. American Century Companies Inc. now owns 1,022,101 shares of the company’s stock worth $68,389,000 after purchasing an additional 89,175 shares during the period. Finally, William Blair Investment Management LLC boosted its holdings in shares of Tecnoglass by 2.2% in the 3rd quarter. William Blair Investment Management LLC now owns 937,463 shares of the company’s stock worth $62,726,000 after purchasing an additional 20,071 shares during the period. Hedge funds and other institutional investors own 37.35% of the company’s stock.

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.