Tecnoglass (NYSE:TGLS) Major Shareholder Holding Corp Energy Acquires 92,066 Shares

Tecnoglass Inc. (NYSE:TGLS) major shareholder Holding Corp Energy purchased 92,066 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was acquired at an average price of $44.24 per share, with a total value of $4,072,999.84. Following the purchase, the insider directly owned 20,516,756 shares of the company’s stock, valued at approximately $907,661,285.44. The trade was a 0.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more 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 Tuesday, March 10th, Holding Corp Energy acquired 107,600 shares of Tecnoglass stock. The shares were acquired at an average cost of $43.41 per share, for a total transaction of $4,670,916.00.
• On Monday, March 9th, Holding Corp Energy bought 107,000 shares of Tecnoglass stock. The shares were bought at an average price of $41.06 per share, for a total transaction of $4,393,420.00.

Tecnoglass Stock Performance

Shares of NYSE TGLS opened at $44.73 on Thursday. The firm’s 50-day moving average price is $49.98 and its 200-day moving average price is $55.94. Tecnoglass Inc. has a 52-week low of $40.09 and a 52-week high of $90.34. The company has a market cap of $2.00 billion, a PE ratio of 13.08, a PEG ratio of 0.54 and a beta of 1.72. The company has a quick ratio of 1.25, a current ratio of 1.86 and a debt-to-equity ratio of 0.24.

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

Institutional Investors Weigh In On Tecnoglass

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. boosted its stake in shares of Tecnoglass by 5.7% in the second quarter. Ameritas Investment Partners Inc. now owns 2,485 shares of the company’s stock worth $192,000 after acquiring an additional 135 shares during the period. Royal Bank of Canada lifted its holdings in Tecnoglass by 8.3% in the 1st quarter. Royal Bank of Canada now owns 3,121 shares of the company’s stock worth $224,000 after purchasing an additional 238 shares in the last quarter. Blue Chip Partners LLC boosted its stake in Tecnoglass by 6.3% in the 4th quarter. Blue Chip Partners LLC now owns 4,250 shares of the company’s stock worth $214,000 after purchasing an additional 250 shares during the period. First Horizon Corp boosted its stake in Tecnoglass by 63.3% in the 4th quarter. First Horizon Corp now owns 673 shares of the company’s stock worth $34,000 after purchasing an additional 261 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Tecnoglass by 2.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 12,459 shares of the company’s stock valued at $627,000 after buying an additional 295 shares in the last quarter. 37.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.