Fmr LLC Trims Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

FMR LLC cut its holdings in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,626,720 shares of the company's stock after selling 16,446 shares during the period. FMR LLC owned approximately 7.72% of Tecnoglass worth $249,011,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TGLS. William Blair Investment Management LLC increased its stake in Tecnoglass by 8.7% in the 2nd quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company's stock worth $88,060,000 after purchasing an additional 140,112 shares during the period. Dimensional Fund Advisors LP boosted its position in Tecnoglass by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company's stock valued at $44,385,000 after acquiring an additional 96,602 shares in the last quarter. Ensign Peak Advisors Inc raised its position in shares of Tecnoglass by 219.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company's stock worth $10,949,000 after acquiring an additional 149,933 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Tecnoglass by 8.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 183,400 shares of the company's stock valued at $12,592,000 after purchasing an additional 13,803 shares during the period. Finally, Impax Asset Management Group plc boosted its position in shares of Tecnoglass by 65.0% during the third quarter. Impax Asset Management Group plc now owns 165,000 shares of the company's stock valued at $11,329,000 after purchasing an additional 65,000 shares in the last quarter. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Raymond James downgraded shares of Tecnoglass from a "strong-buy" rating to a "market perform" rating in a research report on Tuesday, October 22nd. B. Riley reissued a "neutral" rating and issued a $72.00 price target (up from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Robert W. Baird raised their price objective on Tecnoglass from $85.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Stifel Nicolaus increased their target price on Tecnoglass from $50.00 to $59.00 and gave the stock a "hold" rating in a research note on Friday, August 9th. Finally, StockNews.com started coverage on Tecnoglass in a research report on Thursday. They issued a "hold" rating for the company. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Tecnoglass has a consensus rating of "Hold" and an average price target of $77.40.

Tecnoglass Stock Down 0.2 %

Shares of TGLS stock traded down $0.18 during mid-day trading on Monday, hitting $80.87. The company's stock had a trading volume of 80,145 shares, compared to its average volume of 366,159. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 25.33 and a beta of 1.86. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. Tecnoglass Inc. has a 52-week low of $36.14 and a 52-week high of $82.68. The business has a 50-day moving average price of $72.77 and a 200 day moving average price of $60.78.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.11. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The business had revenue of $237.90 million for the quarter, compared to analysts' expectations of $240.19 million. During the same quarter in the prior year, the business earned $0.98 EPS. The business's revenue for the quarter was up 13.1% compared to the same quarter last year. Research analysts predict that Tecnoglass Inc. will post 3.55 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.54%. Tecnoglass's dividend payout ratio is presently 13.75%.

Insider Activity

In other Tecnoglass news, Director Julio A. Torres sold 30,520 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 SEC, which can be accessed through this hyperlink. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total transaction 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. Insiders own 0.25% of the company's stock.

Tecnoglass Company 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.