Sanctuary Advisors LLC Sells 14,876 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Sanctuary Advisors LLC lessened its position in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 42.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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.

Other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC lifted its position 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 acquiring an additional 663 shares in the last quarter. Amalgamated Bank bought a new position in shares of Tecnoglass during the second quarter valued at $39,000. Wolverine Trading LLC purchased a new stake in shares of Tecnoglass during the third quarter valued at $225,000. X Square Capital LLC raised its position in Tecnoglass by 5.7% in the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company's stock worth $219,000 after buying an additional 237 shares during the last quarter. Finally, PFG Investments LLC bought a new position in Tecnoglass during the 2nd quarter valued at about $220,000. Hedge funds and other institutional investors own 37.35% of the company's stock.

Tecnoglass Stock Performance

Shares of NASDAQ TGLS traded up $0.76 during trading on Friday, hitting $80.06. The company had a trading volume of 445,347 shares, compared to its average volume of 360,336. Tecnoglass Inc. has a 12 month low of $40.94 and a 12 month high of $86.08. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. The firm has a market capitalization of $3.76 billion, a P/E ratio of 25.02 and a beta of 1.89. The stock has a 50 day simple moving average of $76.52 and a 200 day simple moving average of $63.60.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last issued 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 business had revenue of $237.90 million for the quarter, compared to the consensus estimate of $240.19 million. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The company's revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. As a group, analysts anticipate that Tecnoglass Inc. will post 3.55 earnings per share for the current year.

Tecnoglass Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.15 per share. 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 0.75%. Tecnoglass's dividend payout ratio (DPR) is currently 18.75%.

Analyst Ratings Changes

A number of analysts have recently commented on TGLS shares. Sidoti lowered shares of Tecnoglass from a "buy" rating to a "neutral" rating and set a $78.00 price target for the company. in a research note on Tuesday, October 22nd. B. Riley reiterated a "neutral" rating and set a $72.00 target price (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Raymond James downgraded Tecnoglass from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 22nd. StockNews.com assumed coverage on Tecnoglass in a research report on Saturday, December 14th. They set a "hold" rating for the company. Finally, Robert W. Baird raised 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. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Tecnoglass presently has a consensus rating of "Hold" and an average target price of $77.40.

Insider Transactions at Tecnoglass

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

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.