Principal Financial Group Inc. Purchases New Position in Tecnoglass Inc. (NASDAQ:TGLS)

Principal Financial Group Inc. 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 Form 13F filing with the SEC. The fund purchased 32,208 shares of the company's stock, valued at approximately $2,211,000. Principal Financial Group Inc. owned about 0.07% of Tecnoglass at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Signaturefd LLC boosted its holdings in Tecnoglass by 4,735.7% in the 3rd quarter. Signaturefd LLC now owns 677 shares of the company's stock valued at $46,000 after purchasing an additional 663 shares during the last quarter. Amalgamated Bank acquired a new position in Tecnoglass in the second quarter valued at approximately $39,000. 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 during the period. PFG Investments LLC acquired a new stake in Tecnoglass during the second quarter worth $220,000. Finally, Tidal Investments LLC purchased a new stake in Tecnoglass in the first quarter valued at $245,000. Hedge funds and other institutional investors own 37.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TGLS. Raymond James cut Tecnoglass from a "strong-buy" rating to a "market perform" rating in a report on Tuesday, October 22nd. Robert W. Baird lifted their price target on shares of Tecnoglass from $85.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Stifel Nicolaus upped their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a "hold" rating in a report on Friday, August 9th. DA Davidson lifted their target price on shares of Tecnoglass from $65.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Finally, Sidoti lowered Tecnoglass from a "buy" rating to a "neutral" rating and set a $78.00 target price on the stock. in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $77.40.

Insider Activity

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 company's stock in a transaction dated Tuesday, November 12th. The stock was 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. Company insiders own 0.25% of the company's stock.

Tecnoglass Stock Up 1.9 %

Shares of NASDAQ TGLS traded up $1.51 during midday trading on Friday, hitting $79.34. The company's stock had a trading volume of 212,179 shares, compared to its average volume of 331,438. Tecnoglass Inc. has a 1 year low of $33.90 and a 1 year high of $80.51. The business's fifty day simple moving average is $71.54 and its two-hundred day simple moving average is $59.74. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 24.79 and a beta of 1.86. 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 (NASDAQ:TGLS - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.08 EPS 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 net margin of 17.82% and a return on equity of 27.71%. The firm's revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 EPS. On average, equities analysts predict that Tecnoglass Inc. will post 3.55 EPS for the current year.

Tecnoglass Dividend Announcement

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

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.