Impax Asset Management Group plc Boosts Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

Impax Asset Management Group plc boosted its holdings in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 65.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 165,000 shares of the company's stock after buying an additional 65,000 shares during the period. Impax Asset Management Group plc owned approximately 0.35% of Tecnoglass worth $11,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Signaturefd LLC grew 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 in the last quarter. Amalgamated Bank purchased a new stake in shares of Tecnoglass during the 2nd quarter valued at $39,000. EntryPoint Capital LLC bought a new stake in shares of Tecnoglass during the 1st quarter worth $227,000. X Square Capital LLC grew its position in Tecnoglass by 5.7% in the second quarter. X Square Capital LLC now owns 4,363 shares of the company's stock worth $219,000 after acquiring an additional 237 shares in the last quarter. Finally, PFG Investments LLC bought a new position in Tecnoglass in the second quarter valued at $220,000. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Julio A. Torres sold 30,520 shares of the company's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total value of $2,222,771.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total value of $104,573,402.40. Following the transaction, the insider now directly owns 23,195,988 shares of the company's stock, 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 company insiders.

Tecnoglass Trading Down 1.0 %

NASDAQ:TGLS traded down $0.77 during mid-day trading on Friday, reaching $73.17. 258,577 shares of the company's stock traded hands, compared to its average volume of 371,706. Tecnoglass Inc. has a 12-month low of $33.19 and a 12-month high of $80.51. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. The company has a 50 day moving average price of $70.13 and a 200-day moving average price of $58.98. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 22.87 and a beta of 1.86.

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. The firm had revenue of $237.90 million for the quarter, compared to analysts' expectations of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The business's revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. On average, sell-side analysts predict that Tecnoglass Inc. will post 3.55 earnings per share for the current year.

Tecnoglass Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Monday, September 30th. Tecnoglass's payout ratio is currently 13.75%.

Analysts Set New Price Targets

Several brokerages have issued reports on TGLS. Sidoti lowered Tecnoglass from a "buy" rating to a "neutral" rating and set a $78.00 price target for the company. in a research note on Tuesday, October 22nd. Robert W. Baird upped their price objective 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 boosted their price target on shares of Tecnoglass from $65.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday. Stifel Nicolaus raised their price target on Tecnoglass from $50.00 to $59.00 and gave the stock a "hold" rating in a research report on Friday, August 9th. Finally, Raymond James lowered Tecnoglass from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $77.40.

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.