Tecnoglass Inc. (NASDAQ:TGLS) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC reduced its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 42.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,481 shares of the company's stock after selling 14,876 shares during the period. Sanctuary Advisors LLC's holdings in Tecnoglass were worth $1,406,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TGLS. Virtu Financial LLC acquired a new position in shares of Tecnoglass in the third quarter worth $422,000. Teachers Retirement System of The State of Kentucky acquired a new position in Tecnoglass in the 3rd quarter valued at about $1,409,000. Geode Capital Management LLC boosted its stake in shares of Tecnoglass by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 500,265 shares of the company's stock worth $34,355,000 after purchasing an additional 22,700 shares during the last quarter. Barclays PLC grew its holdings in shares of Tecnoglass by 32.2% during the third quarter. Barclays PLC now owns 35,376 shares of the company's stock worth $2,429,000 after buying an additional 8,613 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Tecnoglass by 29.5% in the third quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company's stock valued at $134,994,000 after buying an additional 447,647 shares during the last quarter. Hedge funds and other institutional investors own 37.35% of the company's stock.

Tecnoglass Stock Up 1.0 %

NASDAQ TGLS traded up $0.76 during trading hours on Friday, hitting $80.06. The company had a trading volume of 445,347 shares, compared to its average volume of 360,336. The firm's 50 day moving average is $76.52 and its 200 day moving average is $63.69. 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 fifty-two week low of $40.94 and a fifty-two week high of $86.08. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 25.02 and a beta of 1.89.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.11. The business had revenue of $237.90 million during the quarter, compared to analyst estimates of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The company's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. Sell-side analysts anticipate that Tecnoglass Inc. will post 3.55 earnings per share for the current fiscal year.

Tecnoglass Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.15 per share. This is an increase from Tecnoglass's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.60 annualized dividend and a yield of 0.75%. Tecnoglass's payout ratio is 18.75%.

Insiders Place Their Bets

In related news, major shareholder Holding Corp Energy sold 1,432,120 shares of the company's stock in a transaction on 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 sale, the insider now directly owns 23,195,988 shares of the company's stock, valued at $1,693,771,043.76. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Julio A. Torres sold 30,520 shares of the firm's stock in a transaction on 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. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TGLS has been the topic of a number of recent analyst reports. DA Davidson increased their price target on Tecnoglass from $65.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. StockNews.com initiated coverage on shares of Tecnoglass in a research report on Saturday, December 14th. They issued a "hold" rating on the stock. B. Riley reaffirmed a "neutral" rating and set a $72.00 price target (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Robert W. Baird increased their target price on Tecnoglass from $85.00 to $88.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Finally, Sidoti downgraded Tecnoglass from a "buy" rating to a "neutral" rating and set a $78.00 price target for the company. in a research report on Tuesday, October 22nd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $77.40.

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.