CenterBook Partners LP Purchases 51,145 Shares of Tecnoglass Inc. $TGLS

CenterBook Partners LP grew its position in Tecnoglass Inc. (NYSE:TGLS) by 64.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 130,761 shares of the company’s stock after acquiring an additional 51,145 shares during the quarter. CenterBook Partners LP’s holdings in Tecnoglass were worth $6,580,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of Tecnoglass by 53.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,460 shares of the company’s stock valued at $2,239,000 after buying an additional 11,649 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Tecnoglass by 445.3% in the 3rd quarter. Citigroup Inc. now owns 526,061 shares of the company’s stock valued at $35,199,000 after buying an additional 429,590 shares in the last quarter. 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 valued at $68,389,000 after buying an additional 89,175 shares in the last quarter. 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 valued at $120,055,000 after buying an additional 104,132 shares in the last quarter. Finally, Denali Advisors LLC bought a new stake in shares of Tecnoglass in the 4th quarter valued at about $1,702,000. 37.35% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Holding Corp Energy purchased 107,629 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average cost of $45.11 per share, with a total value of $4,855,144.19. Following the completion of the acquisition, the insider owned 20,731,985 shares of the company’s stock, valued at approximately $935,219,843.35. This represents a 0.52% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have acquired 514,895 shares of company stock valued at $22,521,643. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TGLS. Zacks Research cut shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. B. Riley Financial lowered their price target on shares of Tecnoglass from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, March 6th. DA Davidson lowered their price target on shares of Tecnoglass from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Robert W. Baird decreased their price objective on shares of Tecnoglass from $62.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. Finally, Weiss Ratings lowered shares of Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 20th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.33.

Tecnoglass Stock Performance

Shares of TGLS stock opened at $42.45 on Monday. Tecnoglass Inc. has a 52-week low of $37.52 and a 52-week high of $90.34. The company has a quick ratio of 1.15, a current ratio of 1.77 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.88 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.70 and a beta of 1.42. The business has a 50-day simple moving average of $42.81 and a 200-day simple moving average of $47.06.

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

Tecnoglass Announces Dividend

The company also recently announced 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. This represents a $0.60 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, March 31st. Tecnoglass’s payout ratio is 13.93%.

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.