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

Principal Financial Group Inc. purchased a new position in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of TGLS. Wellington Management Group LLP lifted its position in Tecnoglass by 29.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company's stock worth $134,994,000 after acquiring an additional 447,647 shares during the period. Ensign Peak Advisors Inc lifted 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 worth $10,949,000 after purchasing an additional 149,933 shares during the period. William Blair Investment Management LLC boosted its position 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 valued at $88,060,000 after buying an additional 140,112 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Tecnoglass by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company's stock worth $44,385,000 after buying an additional 96,602 shares during the period. Finally, State Street Corp increased its holdings in Tecnoglass by 29.1% in the 3rd quarter. State Street Corp now owns 416,964 shares of the company's stock worth $28,674,000 after buying an additional 93,968 shares during the period. Institutional investors and hedge funds own 37.35% of the company's stock.

Insider Activity

In related news, major shareholder Holding Corp Energy sold 1,432,120 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now owns 23,195,988 shares of the company's stock, valued at approximately $1,693,771,043.76. The trade was a 5.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Julio A. Torres sold 30,520 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total transaction of $2,222,771.60. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TGLS shares. DA Davidson boosted their price objective on Tecnoglass from $65.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. StockNews.com initiated coverage on Tecnoglass in a report on Saturday, December 14th. They issued a "hold" rating for the company. B. Riley reaffirmed a "neutral" rating and set a $72.00 price objective (up previously from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Sidoti cut shares of Tecnoglass from a "buy" rating to a "neutral" rating and set a $78.00 target price for the company. in a research note on Tuesday, October 22nd. Finally, Raymond James lowered shares of Tecnoglass from a "strong-buy" rating to a "market perform" rating in a research report on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $77.40.

Tecnoglass Stock Down 3.1 %

TGLS stock traded down $2.45 during trading on Friday, hitting $76.44. 358,946 shares of the company's stock were exchanged, compared to its average volume of 308,723. The business has a 50-day moving average price of $77.85 and a two-hundred day moving average price of $65.95. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 23.89 and a beta of 1.89. Tecnoglass Inc. has a 52-week low of $40.94 and a 52-week high of $86.08.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted its 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 business had revenue of $237.90 million during the quarter, compared to the consensus estimate of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The business's quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 EPS. As a group, equities research analysts expect that Tecnoglass Inc. will post 3.55 EPS for the current year.

Tecnoglass Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Tecnoglass's previous quarterly dividend of $0.11. This represents a $0.60 dividend on an annualized basis and a yield of 0.78%. Tecnoglass's dividend payout ratio (DPR) is 18.75%.

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.