Intech Investment Management LLC Takes Position in Tecnoglass Inc. (NASDAQ:TGLS)

Intech Investment Management LLC purchased a new stake in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,413 shares of the company's stock, valued at approximately $509,000.

Several other large investors have also added to or reduced their stakes in the company. William Blair Investment Management LLC lifted its holdings in Tecnoglass by 8.7% during the second quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company's stock valued at $88,060,000 after purchasing an additional 140,112 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Tecnoglass by 12.3% during the second quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company's stock valued at $44,385,000 after buying an additional 96,602 shares during the last quarter. Ensign Peak Advisors Inc raised its position in shares of Tecnoglass by 219.7% during the second quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company's stock valued at $10,949,000 after buying an additional 149,933 shares during the last quarter. Impax Asset Management Group plc raised 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 buying an additional 65,000 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Tecnoglass during the second quarter valued at approximately $3,929,000. Hedge funds and other institutional investors own 37.35% of the company's stock.

Insider Buying and Selling at Tecnoglass

In other Tecnoglass news, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm's stock in a transaction 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 sale, the insider now directly owns 23,195,988 shares in the company, valued at $1,693,771,043.76. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Julio A. Torres sold 30,520 shares of the firm's stock in a transaction 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 disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. B. Riley reiterated a "neutral" rating and set a $72.00 price objective (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. StockNews.com initiated coverage on shares of Tecnoglass in a research report on Thursday. They set a "hold" rating on the stock. DA Davidson upped their price objective on Tecnoglass from $65.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Robert W. Baird lifted their target price on Tecnoglass from $85.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Finally, Raymond James downgraded Tecnoglass from a "strong-buy" rating to a "market perform" rating in a report on Tuesday, October 22nd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $77.40.

Tecnoglass Stock Performance

Tecnoglass stock traded down $0.84 during trading hours on Monday, hitting $80.21. 219,266 shares of the stock traded hands, compared to its average volume of 366,782. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 25.33 and a beta of 1.86. The firm's 50 day moving average price is $72.77 and its 200-day moving average price is $60.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. Tecnoglass Inc. has a 1 year low of $36.14 and a 1 year high of $82.68.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.11. The company had revenue of $237.90 million during 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%. Tecnoglass's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. As a group, equities analysts expect that Tecnoglass Inc. will post 3.55 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a dividend of $0.11 per share. The ex-dividend date was Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.55%. Tecnoglass's payout ratio is currently 13.75%.

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.