Cynosure Group LLC Acquires 2,301 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Cynosure Group LLC boosted its holdings in Tecnoglass Inc. (NASDAQ:TGLS) by 27.3% during the third quarter, HoldingsChannel.com reports. The fund owned 10,728 shares of the company’s stock after purchasing an additional 2,301 shares during the period. Cynosure Group LLC’s holdings in Tecnoglass were worth $737,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc lifted its position in shares of Tecnoglass by 219.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after buying an additional 149,933 shares during the period. William Blair Investment Management LLC raised its stake in shares of Tecnoglass by 8.7% in the second quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock valued at $88,060,000 after acquiring an additional 140,112 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Tecnoglass by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after acquiring an additional 96,602 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Tecnoglass during the 2nd quarter worth approximately $3,929,000. Finally, Impax Asset Management Group plc increased its holdings in Tecnoglass by 65.0% during the 3rd quarter. Impax Asset Management Group plc now owns 165,000 shares of the company’s stock valued at $11,329,000 after purchasing an additional 65,000 shares in the last quarter. Institutional investors and hedge funds own 37.35% of the company’s stock.

Insider Transactions at Tecnoglass

In related news, Director Julio A. Torres sold 30,520 shares of Tecnoglass stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total value of $2,222,771.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total value of $104,573,402.40. Following the transaction, the insider now directly owns 23,195,988 shares of the company’s stock, valued at approximately $1,693,771,043.76. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Tecnoglass Price Performance

Shares of TGLS stock opened at $78.94 on Wednesday. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 23.93 and a beta of 1.86. Tecnoglass Inc. has a 12-month low of $33.90 and a 12-month high of $82.68. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average of $71.83 and a 200-day moving average of $60.06.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.11. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The company had revenue of $237.90 million for the quarter, compared to analyst estimates of $240.19 million. During the same quarter last year, the firm posted $0.98 earnings per share. Tecnoglass’s revenue was up 13.1% compared to the same quarter last year. On average, equities research analysts forecast that Tecnoglass Inc. will post 3.55 earnings per share for the current year.

Tecnoglass Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Monday, September 30th. Tecnoglass’s dividend payout ratio (DPR) is presently 13.75%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Stifel Nicolaus raised their target price on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, August 9th. B. Riley reissued a “neutral” rating and set a $72.00 price target (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Robert W. Baird raised their price target on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, DA Davidson boosted their price objective on Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $77.40.

Tecnoglass Company Profile

Tecnoglass Inc manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally. The company provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.