Tecnoglass (NASDAQ:TGLS) Trading Down 4% - Here's What Happened

Tecnoglass Inc. (NASDAQ:TGLS - Get Free Report) dropped 4% on Friday . The company traded as low as $75.71 and last traded at $75.71. Approximately 85,591 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 169,884 shares. The stock had previously closed at $78.89.

Analyst Upgrades and Downgrades

TGLS has been the topic of several research analyst reports. StockNews.com assumed coverage on Tecnoglass in a report on Saturday, December 14th. They issued a "hold" rating on the stock. Raymond James cut shares of Tecnoglass from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 22nd. Sidoti cut shares of Tecnoglass from a "buy" rating to a "neutral" rating and set a $78.00 price objective for the company. in a research report on Tuesday, October 22nd. DA Davidson lifted their target price on shares of Tecnoglass from $65.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird upped their price target on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $77.40.

Tecnoglass Stock Down 3.1 %

The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 23.89 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. The business's 50-day moving average is $77.85 and its two-hundred day moving average is $65.95.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted its quarterly 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. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The business had revenue of $237.90 million during the quarter, compared to analyst estimates of $240.19 million. During the same period in the prior year, the business earned $0.98 earnings per share. The business's revenue was up 13.1% compared to the same quarter last year. Equities analysts anticipate that Tecnoglass Inc. will post 3.55 EPS for the current year.

Tecnoglass Increases Dividend

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

Insider Activity at Tecnoglass

In related news, Director Julio A. Torres sold 30,520 shares of the 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass 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 directly owns 23,195,988 shares of the company's stock, valued at approximately $1,693,771,043.76. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On Tecnoglass

Hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank purchased a new position in shares of Tecnoglass in the 2nd quarter valued at about $39,000. Signaturefd LLC grew its holdings in Tecnoglass by 4,735.7% during the 3rd quarter. Signaturefd LLC now owns 677 shares of the company's stock worth $46,000 after acquiring an additional 663 shares in the last quarter. DGS Capital Management LLC purchased a new stake in shares of Tecnoglass in the 3rd quarter valued at approximately $204,000. X Square Capital LLC raised its holdings in shares of 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 purchasing an additional 237 shares in the last quarter. Finally, PFG Investments LLC purchased a new stake in shares of Tecnoglass during the 2nd quarter worth $220,000. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Tecnoglass Company 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.