Tecnoglass Inc. (NASDAQ:TGLS) Shares Acquired by MetLife Investment Management LLC

MetLife Investment Management LLC lifted its stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 129.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,101 shares of the company's stock after acquiring an additional 7,382 shares during the period. MetLife Investment Management LLC's holdings in Tecnoglass were worth $900,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Ensign Peak Advisors Inc increased 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 worth $10,949,000 after purchasing an additional 149,933 shares in the last quarter. William Blair Investment Management LLC increased its position in Tecnoglass by 8.7% during the 2nd quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company's stock valued at $88,060,000 after buying an additional 140,112 shares in the last quarter. Dimensional Fund Advisors LP increased 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 buying an additional 96,602 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Tecnoglass in the second quarter valued at about $3,929,000. Finally, Impax Asset Management Group plc grew its stake 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 worth $11,329,000 after acquiring an additional 65,000 shares during the last quarter. Institutional investors own 37.35% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on TGLS shares. B. Riley reiterated a "neutral" rating and issued a $72.00 target price (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Sidoti lowered shares of Tecnoglass from a "buy" rating to a "neutral" rating and set a $78.00 price objective on the stock. in a report on Tuesday, October 22nd. Stifel Nicolaus raised 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. StockNews.com began coverage on Tecnoglass in a research note on Friday. They set a "hold" rating on the stock. Finally, Robert W. Baird raised their price objective on Tecnoglass from $85.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. 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, Tecnoglass has a consensus rating of "Hold" and a consensus target price of $77.40.

Insider Activity at Tecnoglass

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

Tecnoglass Stock Performance

Shares of NASDAQ TGLS traded up $1.07 during trading on Friday, reaching $83.25. 141,607 shares of the company traded hands, compared to its average volume of 318,240. The stock has a market cap of $3.91 billion, a P/E ratio of 26.02 and a beta of 1.89. The firm's fifty day simple moving average is $74.22 and its 200 day simple moving average is $61.64. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. Tecnoglass Inc. has a 12-month low of $37.88 and a 12-month high of $83.75.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate 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% on a year-over-year basis. During the same period last year, the business earned $0.98 earnings per share. As a group, research analysts anticipate that Tecnoglass Inc. will post 3.55 earnings per share for the current fiscal year.

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.