Impax Asset Management Group plc Grows Stock Position in Tecnoglass Inc. (NASDAQ:TGLS)

Impax Asset Management Group plc increased its holdings in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 65.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 165,000 shares of the company's stock after purchasing an additional 65,000 shares during the quarter. Impax Asset Management Group plc owned 0.35% of Tecnoglass worth $11,329,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. William Blair Investment Management LLC raised its holdings 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 increased its stake in Tecnoglass by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company's stock worth $44,385,000 after buying an additional 96,602 shares in the last quarter. Clearbridge Investments LLC increased its stake in Tecnoglass by 2.3% during the 1st quarter. Clearbridge Investments LLC now owns 389,876 shares of the company's stock worth $20,285,000 after buying an additional 8,913 shares in the last quarter. Ensign Peak Advisors Inc increased its stake in Tecnoglass by 219.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company's stock worth $10,949,000 after buying an additional 149,933 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Tecnoglass during the 2nd quarter worth approximately $3,929,000. Institutional investors and hedge funds own 37.35% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Stifel Nicolaus boosted their price objective on Tecnoglass from $50.00 to $59.00 and gave the stock a "hold" rating in a research note on Friday, August 9th. Sidoti lowered Tecnoglass from a "buy" rating to a "neutral" rating and set a $78.00 price target for the company. in a research report on Tuesday, October 22nd. Raymond James lowered Tecnoglass from a "strong-buy" rating to a "market perform" rating in a research report on Tuesday, October 22nd. DA Davidson upped their price target on Tecnoglass from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, August 13th. Finally, Robert W. Baird upped their price target on Tecnoglass from $76.00 to $85.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $67.33.

Tecnoglass Trading Down 0.0 %

Shares of TGLS traded down $0.01 during midday trading on Wednesday, hitting $70.25. 491,547 shares of the stock were exchanged, compared to its average volume of 368,196. Tecnoglass Inc. has a 52-week low of $29.55 and a 52-week high of $80.51. The stock has a fifty day simple moving average of $68.06 and a 200 day simple moving average of $58.00. The firm has a market cap of $3.30 billion, a P/E ratio of 22.53 and a beta of 1.86. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.43.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The business had revenue of $219.65 million during the quarter, compared to analyst estimates of $219.29 million. During the same period last year, the business posted $1.12 earnings per share. The company's quarterly revenue was down 2.5% on a year-over-year basis. On average, research analysts anticipate that Tecnoglass Inc. will post 3.46 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.63%. Tecnoglass's dividend payout ratio is currently 14.10%.

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.