State Street Corp Grows Position in Tecnoglass Inc. (NASDAQ:TGLS)

State Street Corp boosted its holdings in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 29.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 416,964 shares of the company's stock after purchasing an additional 93,968 shares during the quarter. State Street Corp owned about 0.89% of Tecnoglass worth $28,674,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Amalgamated Bank purchased a new stake in shares of Tecnoglass during the second quarter valued at approximately $39,000. Signaturefd LLC grew its holdings in Tecnoglass by 4,735.7% during the third quarter. Signaturefd LLC now owns 677 shares of the company's stock valued at $46,000 after purchasing an additional 663 shares during the period. X Square Capital LLC raised its stake in Tecnoglass by 5.7% in the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company's stock valued at $219,000 after acquiring an additional 237 shares during the period. PFG Investments LLC purchased a new stake in shares of Tecnoglass during the second quarter worth $220,000. Finally, Crossmark Global Holdings Inc. boosted its position in shares of Tecnoglass by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company's stock valued at $355,000 after acquiring an additional 220 shares during the period. Institutional investors own 37.35% of the company's stock.

Tecnoglass Stock Up 1.0 %

Shares of TGLS stock traded up $0.76 during mid-day trading on Friday, reaching $80.06. 445,347 shares of the company's stock traded hands, compared to its average volume of 360,336. The company's 50-day moving average price is $76.52 and its 200-day moving average price is $63.79. The company has a market cap of $3.76 billion, a P/E ratio of 25.02 and a beta of 1.89. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. Tecnoglass Inc. has a 12 month low of $40.94 and a 12 month high of $86.08.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.97 by $0.11. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The business had revenue of $237.90 million for the quarter, compared to analyst estimates of $240.19 million. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Tecnoglass's quarterly revenue was up 13.1% on a year-over-year basis. On average, equities analysts expect that Tecnoglass Inc. will post 3.55 earnings per share for the current fiscal year.

Tecnoglass Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.15 dividend. 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 dividend yield of 0.75%. The ex-dividend date is Tuesday, December 31st. Tecnoglass's dividend payout ratio is currently 18.75%.

Analysts Set New Price Targets

TGLS has been the subject of a number of recent research reports. B. Riley restated a "neutral" rating and issued a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Sidoti lowered 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. Robert W. Baird boosted their target price on Tecnoglass from $85.00 to $88.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Raymond James downgraded Tecnoglass from a "strong-buy" rating to a "market perform" rating in a report on Tuesday, October 22nd. Finally, StockNews.com began coverage on shares of Tecnoglass in a report on Saturday, December 14th. They issued a "hold" rating on the stock. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Tecnoglass has an average rating of "Hold" and a consensus target price of $77.40.

Insider Activity

In other news, Director Julio A. Torres sold 30,520 shares of the business's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total value of $2,222,771.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the 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 in the company, valued at $1,693,771,043.76. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

About Tecnoglass

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.