Tecnoglass (NASDAQ:TGLS) Shares Down 3%

Tecnoglass Inc. (NASDAQ:TGLS – Get Rating)’s stock price fell 3% during trading on Tuesday . The stock traded as low as $43.96 and last traded at $44.43. 67,905 shares traded hands during trading, a decline of 82% from the average session volume of 373,094 shares. The stock had previously closed at $45.82.

Analysts Set New Price Targets

Several research firms have commented on TGLS. Raymond James boosted their price objective on Tecnoglass from $35.00 to $42.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 28th. B. Riley boosted their target price on Tecnoglass from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, February 6th. StockNews.com assumed coverage on Tecnoglass in a report on Thursday, May 18th. They set a “buy” rating on the stock. Robert W. Baird boosted their target price on Tecnoglass from $52.00 to $54.00 in a report on Friday, May 5th. Finally, DA Davidson boosted their target price on Tecnoglass from $48.00 to $53.00 in a report on Friday, May 5th.

Tecnoglass Stock Down 4.7 %

The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 10.65 and a beta of 1.74. The business has a fifty day moving average of $42.73 and a 200 day moving average of $35.99. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.05 and a quick ratio of 1.47.

Tecnoglass (NASDAQ:TGLS – Get Rating) last released its quarterly earnings data on Thursday, March 2nd. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. Tecnoglass had a return on equity of 54.65% and a net margin of 23.34%. The firm had revenue of $211.12 million for the quarter, compared to analysts’ expectations of $204.16 million. As a group, equities analysts predict that Tecnoglass Inc. will post 4.11 earnings per share for the current year.

Tecnoglass Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, March 31st were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.88%. This is a boost from Tecnoglass’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, March 30th. Tecnoglass’s dividend payout ratio is 9.35%.

Insiders Place Their Bets

In other Tecnoglass news, COO Christian T. Daes sold 204,632 shares of the company’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $42.26, for a total transaction of $8,647,748.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jose M. Daes sold 275,810 shares of the company’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $42.26, for a total transaction of $11,655,730.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Christian T. Daes sold 204,632 shares of the company’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $42.26, for a total value of $8,647,748.32. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Institutional Trading of Tecnoglass

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new stake in shares of Tecnoglass during the third quarter worth $28,000. BNP Paribas Arbitrage SA purchased a new stake in shares of Tecnoglass during the first quarter worth $29,000. BNP Paribas Arbitrage SNC purchased a new position in Tecnoglass in the third quarter valued at $65,000. Castleview Partners LLC purchased a new position in Tecnoglass in the first quarter valued at $66,000. Finally, UBS Group AG increased its holdings in Tecnoglass by 104.4% in the third quarter. UBS Group AG now owns 3,758 shares of the company’s stock valued at $79,000 after buying an additional 1,919 shares during the last quarter. Hedge funds and other institutional investors own 23.64% of the company’s stock.

About Tecnoglass

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Tecnoglass, Inc is a holding company, which engages in the design, manufacturing, distribution, marketing, and installation of architectural glass, windows and associated aluminum products for the global commercial and residential construction market. It operates through the following geographical segments: Colombia, United States, Panama, and Other.