Semanteon Capital Management LP purchased a new stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) during the third quarter, according to its most recent filing with the SEC. The fund purchased 18,016 shares of the company's stock, valued at approximately $1,237,000. Tecnoglass comprises about 0.8% of Semanteon Capital Management LP's portfolio, making the stock its 6th largest holding.
Several other hedge funds have also bought and sold shares of TGLS. William Blair Investment Management LLC grew its holdings in Tecnoglass by 8.7% in the second 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 last quarter. Dimensional Fund Advisors LP increased its stake in shares of Tecnoglass by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company's stock valued at $44,385,000 after purchasing an additional 96,602 shares in the last quarter. Clearbridge Investments LLC grew its stake in Tecnoglass by 2.3% in the 1st quarter. Clearbridge Investments LLC now owns 389,876 shares of the company's stock valued at $20,285,000 after acquiring an additional 8,913 shares during the period. Ensign Peak Advisors Inc raised its holdings 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 acquiring an additional 149,933 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Tecnoglass in the 2nd quarter valued at $3,929,000. Hedge funds and other institutional investors own 37.35% of the company's stock.
Tecnoglass Price Performance
Shares of TGLS stock traded up $0.18 during midday trading on Monday, reaching $69.92. 169,732 shares of the company were exchanged, compared to its average volume of 372,136. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.43. The company's 50 day moving average price is $66.80 and its two-hundred day moving average price is $57.41. Tecnoglass Inc. has a 12 month low of $28.21 and a 12 month high of $80.51. The company has a market cap of $3.29 billion, a P/E ratio of 20.15 and a beta of 1.86.
Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted 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 net margin of 17.97% and a return on equity of 28.12%. The business had revenue of $219.65 million during the quarter, compared to analysts' expectations of $219.29 million. During the same period last year, the company posted $1.12 earnings per share. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. On average, sell-side analysts expect that Tecnoglass Inc. will post 3.44 earnings per share for the current year.
Tecnoglass Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Monday, September 30th. Tecnoglass's payout ratio is 12.68%.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. Sidoti cut shares of Tecnoglass from a "buy" rating to a "neutral" rating and set a $78.00 price target on the stock. in a research report on Tuesday, October 22nd. Stifel Nicolaus boosted their price target on Tecnoglass from $50.00 to $59.00 and gave the company a "hold" rating in a research report on Friday, August 9th. DA Davidson boosted their price objective on shares of Tecnoglass from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, August 13th. Raymond James downgraded Tecnoglass from a "strong-buy" rating to a "market perform" rating in a research report on Tuesday, October 22nd. Finally, B. Riley restated a "neutral" rating and issued a $72.00 price target (up previously from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Tecnoglass has an average rating of "Hold" and an average target price of $67.33.
Read Our Latest Research Report on TGLS
Tecnoglass Profile
(
Free Report)
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.
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