Teachers Retirement System of The State of Kentucky Takes $1.41 Million Position in Tecnoglass Inc. (NASDAQ:TGLS)

Teachers Retirement System of The State of Kentucky acquired a new position in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 20,524 shares of the company's stock, valued at approximately $1,409,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TGLS. Amalgamated Bank purchased a new position in shares of Tecnoglass during the 2nd quarter valued at about $39,000. Signaturefd LLC boosted its position in Tecnoglass by 4,735.7% in the 3rd quarter. Signaturefd LLC now owns 677 shares of the company's stock worth $46,000 after purchasing an additional 663 shares in the last quarter. X Square Capital LLC grew its stake in shares of Tecnoglass by 5.7% during the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company's stock worth $219,000 after purchasing an additional 237 shares during the period. PFG Investments LLC purchased a new position in shares of Tecnoglass during the 2nd quarter valued at approximately $220,000. Finally, Wolverine Trading LLC acquired a new position in shares of Tecnoglass in the 3rd quarter valued at $225,000. Institutional investors and hedge funds own 37.35% of the company's stock.

Tecnoglass Price Performance

TGLS traded down $2.46 on Wednesday, hitting $78.78. 321,430 shares of the company's stock were exchanged, compared to its average volume of 360,509. Tecnoglass Inc. has a fifty-two week low of $40.94 and a fifty-two week high of $86.08. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 24.62 and a beta of 1.89. The firm has a 50-day moving average price of $76.15 and a 200-day moving average price of $63.18. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.11. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The firm had revenue of $237.90 million for the quarter, compared to analyst estimates of $240.19 million. During the same period in the previous year, the business posted $0.98 earnings per share. Tecnoglass's quarterly revenue was up 13.1% on a year-over-year basis. As a group, equities analysts anticipate that Tecnoglass Inc. will post 3.55 earnings per share 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. This is a boost from Tecnoglass's previous quarterly dividend of $0.11. This represents a $0.60 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Tuesday, December 31st. Tecnoglass's dividend payout ratio is presently 18.75%.

Insider Transactions at Tecnoglass

In related news, major shareholder Holding Corp Energy sold 1,432,120 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. This represents a 5.81 % decrease in their ownership of the stock. The sale 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 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 disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com started coverage on shares of Tecnoglass in a research report on Saturday. They issued a "hold" rating for the company. B. Riley restated a "neutral" rating and issued a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. 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. Raymond James lowered shares of Tecnoglass from a "strong-buy" rating to a "market perform" rating in a report on Tuesday, October 22nd. Finally, DA Davidson increased their price objective on shares of Tecnoglass from $65.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $77.40.

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.