Tecnoglass Inc. $TGLS Shares Sold by Owls Nest Partners IA LLC

Owls Nest Partners IA LLC trimmed its position in Tecnoglass Inc. (NYSE:TGLS) by 7.0% during the fourth quarter, according to the company in 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 period. Tecnoglass comprises about 11.8% of Owls Nest Partners IA LLC’s investment portfolio, making the stock its 5th largest position. Owls Nest Partners IA LLC owned about 1.82% of Tecnoglass worth $42,572,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TGLS. Royal Bank of Canada grew its holdings in shares of Tecnoglass by 8.3% during the first quarter. Royal Bank of Canada now owns 3,121 shares of the company’s stock worth $224,000 after buying an additional 238 shares in the last quarter. First Horizon Corp lifted its stake in shares of Tecnoglass by 63.3% during the fourth quarter. First Horizon Corp now owns 673 shares of the company’s stock valued at $34,000 after buying an additional 261 shares during the period. The Manufacturers Life Insurance Company boosted its position in Tecnoglass by 2.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 12,459 shares of the company’s stock worth $627,000 after acquiring an additional 295 shares during the last quarter. Arax Advisory Partners boosted its position in Tecnoglass by 128.4% during the fourth quarter. Arax Advisory Partners now owns 596 shares of the company’s stock worth $30,000 after acquiring an additional 335 shares during the last quarter. Finally, Osaic Holdings Inc. grew its stake in Tecnoglass by 4.2% in the 2nd quarter. Osaic Holdings Inc. now owns 8,349 shares of the company’s stock worth $647,000 after acquiring an additional 337 shares during the period. 37.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tecnoglass

In other news, major shareholder Holding Corp Energy acquired 80,879 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of $40.56 per share, for a total transaction of $3,280,452.24. Following the acquisition, the insider directly owned 20,812,864 shares in the company, valued at $844,169,763.84. This trade represents a 0.39% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by company insiders.

Tecnoglass Stock Performance

NYSE:TGLS opened at $43.89 on Monday. The company has a market cap of $1.95 billion, a P/E ratio of 13.59, a P/E/G ratio of 0.73 and a beta of 1.42. The firm’s 50 day moving average is $42.78 and its two-hundred day moving average is $46.95. Tecnoglass Inc. has a fifty-two week low of $37.52 and a fifty-two week high of $84.47. The company has a quick ratio of 1.15, a current ratio of 1.77 and a debt-to-equity ratio of 0.26.

Tecnoglass (NYSE:TGLS) last released its quarterly earnings data on Friday, May 8th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The business had revenue of $249.01 million during 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 business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 EPS. Analysts expect that Tecnoglass Inc. will post 2.73 EPS for the current year.

Tecnoglass Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.60 annualized dividend and a yield of 1.4%. Tecnoglass’s dividend payout ratio is currently 13.93%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Zacks Research lowered Tecnoglass from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Robert W. Baird lowered their price objective on Tecnoglass from $62.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. B. Riley Financial dropped 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. Weiss Ratings downgraded Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 20th. Finally, DA Davidson decreased their price target on Tecnoglass from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.33.

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.