Holding Corp Energy Acquires 107,600 Shares of Tecnoglass (NYSE:TGLS) Stock

Tecnoglass Inc. (NYSE:TGLS) major shareholder Holding Corp Energy acquired 107,600 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were acquired at an average price of $45.28 per share, for a total transaction of $4,872,128.00. Following the acquisition, the insider directly owned 20,624,356 shares in the company, valued at $933,870,839.68. This represents a 0.52% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

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

Tecnoglass Stock Down 4.0%

Shares of Tecnoglass stock traded down $1.83 on Monday, hitting $43.89. The company had a trading volume of 756,015 shares, compared to its average volume of 405,324. The stock has a 50-day moving average of $49.74 and a 200-day moving average of $55.43. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.25. Tecnoglass Inc. has a twelve month low of $40.09 and a twelve month high of $90.34. The firm has a market capitalization of $1.96 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.58 and a beta of 1.72.

Tecnoglass (NYSE:TGLS) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.21). The company had revenue of $245.30 million for the quarter. Tecnoglass had a return on equity of 23.05% and a net margin of 16.22%.The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 EPS.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TGLS shares. B. Riley Financial decreased their price objective on Tecnoglass from $70.00 to $65.00 and set a “buy” rating for the company in a report on Friday, March 6th. DA Davidson decreased their price target on shares of Tecnoglass from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tecnoglass in a research report on Monday, December 22nd. Finally, Zacks Research downgraded shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Two equities 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 data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $67.50.

Hedge Funds Weigh In On Tecnoglass

Several large investors have recently modified their holdings of TGLS. First Horizon Corp acquired a new stake in shares of Tecnoglass during the 3rd quarter worth about $28,000. Kemnay Advisory Services Inc. bought a new stake in shares of Tecnoglass during the 4th quarter worth about $28,000. Arax Advisory Partners grew its stake in Tecnoglass by 128.4% in the 4th quarter. Arax Advisory Partners now owns 596 shares of the company’s stock valued at $30,000 after buying an additional 335 shares during the last quarter. Federated Hermes Inc. raised its holdings in Tecnoglass by 290.2% in the 3rd 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, Caitong International Asset Management Co. Ltd raised its holdings in Tecnoglass by 223.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock valued at $43,000 after acquiring an additional 440 shares during the period. 37.35% of the stock is owned by institutional investors.

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.