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

Shares of Tecnoglass Inc. (NYSE:TGLS) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $37.52 and last traded at $38.5510, with a volume of 333542 shares traded. The stock had previously closed at $38.02.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Zacks Research lowered Tecnoglass from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. DA Davidson reduced their target price on Tecnoglass from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Robert W. Baird reduced their target price on Tecnoglass from $62.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. B. Riley Financial reduced 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. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tecnoglass in a research note on Friday, April 10th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.33.

Tecnoglass Price Performance

The firm has a 50-day simple moving average of $43.10 and a two-hundred day simple moving average of $48.24. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 0.68 and a beta of 1.42. The company has a current ratio of 1.77, a quick ratio of 1.25 and a debt-to-equity ratio of 0.26.

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

Tecnoglass Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, March 31st. Tecnoglass’s dividend payout ratio (DPR) is currently 18.58%.

Insider Activity

In related news, major shareholder Holding Corp Energy purchased 107,629 shares of the business’s stock in a transaction on Friday, March 13th. The shares were bought at an average cost of $45.11 per share, with a total value of $4,855,144.19. Following the transaction, the insider owned 20,731,985 shares of the company’s stock, valued at approximately $935,219,843.35. This trade represents a 0.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anne Louise Carricarte purchased 1,100 shares of the business’s stock in a transaction on Friday, March 6th. The shares were bought at an average cost of $43.27 per share, for a total transaction of $47,597.00. Following the completion of the transaction, the director directly owned 1,100 shares in the company, valued at $47,597. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 522,995 shares of company stock worth $22,912,205 over the last ninety days. 0.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Tecnoglass

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in shares of Tecnoglass by 8.3% during the 1st quarter. Royal Bank of Canada now owns 3,121 shares of the company’s stock valued at $224,000 after acquiring an additional 238 shares during the period. Blue Chip Partners LLC grew its position in shares of Tecnoglass by 6.3% during the 4th quarter. Blue Chip Partners LLC now owns 4,250 shares of the company’s stock valued at $214,000 after acquiring an additional 250 shares during the period. First Horizon Corp grew its position in shares of Tecnoglass by 63.3% during the 4th quarter. First Horizon Corp now owns 673 shares of the company’s stock valued at $34,000 after acquiring an additional 261 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Tecnoglass by 2.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 12,459 shares of the company’s stock valued at $627,000 after acquiring an additional 295 shares during the period. Finally, Arax Advisory Partners grew its position in shares of Tecnoglass by 128.4% during the 4th quarter. Arax Advisory Partners now owns 596 shares of the company’s stock valued at $30,000 after acquiring an additional 335 shares during the period. 37.35% of the stock is owned by institutional investors and hedge funds.

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.