JPMorgan Chase & Co. Purchases 11,649 Shares of Tecnoglass Inc. $TGLS

JPMorgan Chase & Co. lifted its position in Tecnoglass Inc. (NYSE:TGLS) by 53.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,460 shares of the company’s stock after purchasing an additional 11,649 shares during the quarter. JPMorgan Chase & Co. owned about 0.07% of Tecnoglass worth $2,239,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TGLS. First Horizon Corp bought a new stake in shares of Tecnoglass in the third quarter worth about $28,000. Federated Hermes Inc. increased its holdings in shares of Tecnoglass by 290.2% in the third quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock worth $40,000 after purchasing an additional 444 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Tecnoglass by 223.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock worth $43,000 after purchasing an additional 440 shares during the last quarter. Covestor Ltd increased its holdings in shares of Tecnoglass by 52.9% in the third quarter. Covestor Ltd now owns 2,282 shares of the company’s stock worth $153,000 after purchasing an additional 790 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Tecnoglass in the third quarter worth about $178,000. 37.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TGLS shares. DA Davidson reduced 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tecnoglass in a report on Monday, December 22nd. B. Riley Financial reduced 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, Zacks Research cut Tecnoglass from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Two 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, the stock has a consensus rating of “Hold” and an average price target of $67.50.

Insider Buying and Selling

In other Tecnoglass news, Director Anne Louise Carricarte bought 1,100 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were purchased at an average price of $43.27 per share, with a total value of $47,597.00. Following the completion of the purchase, the director owned 1,100 shares in the company, valued at $47,597. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Holding Corp Energy bought 107,629 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $45.11 per share, for a total transaction of $4,855,144.19. Following the purchase, the insider owned 20,731,985 shares of the company’s stock, valued at approximately $935,219,843.35. The trade was a 0.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 522,995 shares of company stock worth $22,912,205. Company insiders own 0.06% of the company’s stock.

Tecnoglass Trading Down 0.4%

Shares of TGLS stock opened at $43.61 on Tuesday. Tecnoglass Inc. has a 1 year low of $39.53 and a 1 year high of $90.34. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.25. The stock’s 50 day simple moving average is $46.83 and its two-hundred day simple moving average is $52.22. The company has a market cap of $1.95 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 0.55 and a beta of 1.55.

Tecnoglass (NYSE:TGLS) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.63 earnings per share (EPS) 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 in the previous year, the business posted $1.05 EPS. Tecnoglass’s revenue for the quarter was up 3.0% on a year-over-year basis.

Tecnoglass Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.4%. Tecnoglass’s dividend payout ratio is 17.54%.

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.