Calamos Advisors LLC Lowers Stock Position in Tecnoglass Inc. (NASDAQ:TGLS)

Calamos Advisors LLC lessened its stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 37.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,266 shares of the company's stock after selling 9,091 shares during the period. Calamos Advisors LLC's holdings in Tecnoglass were worth $1,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. USA Financial Formulas purchased a new stake in Tecnoglass in the fourth quarter valued at about $26,000. Signaturefd LLC raised its holdings in shares of Tecnoglass by 4,735.7% during the third quarter. Signaturefd LLC now owns 677 shares of the company's stock worth $46,000 after purchasing an additional 663 shares during the last quarter. R Squared Ltd acquired a new position in shares of Tecnoglass in the 4th quarter valued at about $70,000. DGS Capital Management LLC purchased a new stake in Tecnoglass in the 3rd quarter worth approximately $204,000. Finally, International Assets Investment Management LLC acquired a new stake in Tecnoglass during the fourth quarter valued at $243,000. Institutional investors own 37.35% of the company's stock.

Analysts Set New Price Targets

TGLS has been the subject of several research analyst reports. Raymond James downgraded Tecnoglass from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 22nd. Sidoti cut Tecnoglass from a "buy" rating to a "neutral" rating and set a $78.00 price target for the company. in a report on Tuesday, October 22nd. Robert W. Baird increased their price target on shares of Tecnoglass from $85.00 to $88.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. DA Davidson raised their price objective on Tecnoglass from $65.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Finally, StockNews.com assumed coverage on Tecnoglass in a research note on Saturday, December 14th. They issued a "hold" rating for the company. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $77.40.

Insider Buying and Selling at Tecnoglass

In other news, Director Julio A. Torres sold 30,520 shares of the business's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total value of $2,222,771.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total value of $104,573,402.40. Following the transaction, the insider now owns 23,195,988 shares in the company, valued at $1,693,771,043.76. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Tecnoglass Stock Down 1.2 %

NASDAQ TGLS traded down $0.90 on Friday, hitting $77.53. 209,231 shares of the stock were exchanged, compared to its average volume of 262,221. Tecnoglass Inc. has a fifty-two week low of $40.94 and a fifty-two week high of $86.99. The company has a 50-day moving average price of $80.15 and a 200-day moving average price of $71.04. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The company has a market cap of $3.64 billion, a PE ratio of 24.23 and a beta of 1.88.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.97 by $0.11. The firm had revenue of $237.90 million for the quarter, compared to analyst estimates of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. Tecnoglass's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 earnings per share. Sell-side analysts anticipate that Tecnoglass Inc. will post 3.53 EPS for the current fiscal year.

Tecnoglass Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.15 per share. This is a boost from Tecnoglass's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.60 annualized dividend and a yield of 0.77%. Tecnoglass's payout ratio is presently 18.75%.

Tecnoglass Profile

Tecnoglass Inc manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally. The company provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.