Insider Buying: Tecnoglass (NYSE:TGLS) Major Shareholder Buys $770,002.67 in Stock

Tecnoglass Inc. (NYSE:TGLS) major shareholder Holding Corp Energy acquired 19,121 shares of the stock in a transaction dated Friday, May 15th. The stock was bought at an average price of $40.27 per share, for a total transaction of $770,002.67. Following the completion of the purchase, the insider owned 20,831,985 shares in the company, valued at approximately $838,904,035.95. This trade represents a 0.09% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, May 14th, Holding Corp Energy bought 80,879 shares of Tecnoglass stock. The shares were bought at an average price of $40.56 per share, with a total value of $3,280,452.24.
• On Friday, March 13th, Holding Corp Energy purchased 107,629 shares of Tecnoglass stock. The stock was bought at an average cost of $45.11 per share, for a total transaction of $4,855,144.19.
• On Thursday, March 12th, Holding Corp Energy purchased 107,600 shares of Tecnoglass stock. The stock was bought at an average price of $45.28 per share, for a total transaction of $4,872,128.00.
• On Wednesday, March 11th, Holding Corp Energy acquired 92,066 shares of Tecnoglass stock. The shares were bought at an average price of $44.24 per share, with a total value of $4,072,999.84.
• On Tuesday, March 10th, Holding Corp Energy acquired 107,600 shares of Tecnoglass stock. The shares were bought at an average price of $43.41 per share, with a total value of $4,670,916.00.
• On Monday, March 9th, Holding Corp Energy acquired 107,000 shares of Tecnoglass stock. The shares were bought at an average cost of $41.06 per share, with a total value of $4,393,420.00.

Tecnoglass Stock Up 5.1%

Shares of NYSE:TGLS opened at $40.98 on Thursday. The company’s fifty day moving average is $42.93 and its 200-day moving average is $47.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.77. Tecnoglass Inc. has a 52 week low of $37.52 and a 52 week high of $90.34. The company has a market capitalization of $1.82 billion, a PE ratio of 12.69, a P/E/G ratio of 0.65 and a beta of 1.42.

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

Tecnoglass Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.5%. Tecnoglass’s dividend payout ratio (DPR) is presently 18.58%.

Wall Street Analyst Weigh In

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

Institutional Trading of Tecnoglass

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Horizon Corp bought a new position in Tecnoglass in the 3rd quarter valued at $28,000. Kemnay Advisory Services Inc. bought a new stake in shares of Tecnoglass during the fourth quarter worth $28,000. Arax Advisory Partners lifted its stake in shares of Tecnoglass by 128.4% during the fourth 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. Federated Hermes Inc. lifted its stake in shares of Tecnoglass by 290.2% during the third quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock valued at $40,000 after acquiring an additional 444 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of Tecnoglass by 444.0% during the first quarter. Parallel Advisors LLC now owns 952 shares of the company’s stock valued at $42,000 after acquiring an additional 777 shares during the period. Institutional investors and hedge funds 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.