Tecnoglass (NASDAQ:TGLS) Shares Cross Above 50 Day Moving Average - What's Next?

Shares of Tecnoglass Inc. (NASDAQ:TGLS - Get Free Report) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $77.71 and traded as high as $80.18. Tecnoglass shares last traded at $78.89, with a volume of 258,501 shares changing hands.

Analyst Ratings Changes

TGLS has been the topic of several research analyst reports. DA Davidson lifted their price target on Tecnoglass from $65.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Robert W. Baird boosted their target price 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. Sidoti cut Tecnoglass from a "buy" rating to a "neutral" rating and set a $78.00 price target on the stock. in a report on Tuesday, October 22nd. B. Riley reissued a "neutral" rating and issued a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Finally, StockNews.com began coverage on Tecnoglass in a report on Saturday, December 14th. They issued a "hold" rating for the company. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $77.40.

Tecnoglass Stock Down 3.1 %

The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average of $77.85 and a 200-day moving average of $65.95. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 23.89 and a beta of 1.89.

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

Tecnoglass Increases Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, December 31st. This is a positive change from Tecnoglass's previous quarterly dividend of $0.11. This represents a $0.60 annualized dividend and a yield of 0.78%. Tecnoglass's dividend payout ratio is currently 18.75%.

Insider Transactions at Tecnoglass

In other Tecnoglass news, Director Julio A. Torres sold 30,520 shares of Tecnoglass 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 legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass stock in a transaction on 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 sale, 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. 0.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in shares of Tecnoglass by 29.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company's stock valued at $134,994,000 after purchasing an additional 447,647 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of Tecnoglass by 8.7% during the second quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company's stock worth $88,060,000 after purchasing an additional 140,112 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Tecnoglass by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company's stock valued at $44,385,000 after acquiring an additional 96,602 shares during the period. Geode Capital Management LLC lifted its stake in Tecnoglass by 4.8% in the third quarter. Geode Capital Management LLC now owns 500,265 shares of the company's stock valued at $34,355,000 after buying an additional 22,700 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Tecnoglass by 29.1% during the third quarter. State Street Corp now owns 416,964 shares of the company's stock worth $28,674,000 after acquiring an additional 93,968 shares during the period. Institutional investors and hedge funds own 37.35% of the company's stock.

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.