Victory Capital Management Inc. Has $27.33 Million Stock Position in Tecnoglass Inc. (NASDAQ:TGLS)

Victory Capital Management Inc. lowered its holdings in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 22.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 398,069 shares of the company's stock after selling 116,619 shares during the quarter. Victory Capital Management Inc. owned approximately 0.85% of Tecnoglass worth $27,331,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TGLS. GSA Capital Partners LLP grew its stake in Tecnoglass by 262.4% during the third quarter. GSA Capital Partners LLP now owns 20,089 shares of the company's stock valued at $1,379,000 after acquiring an additional 14,545 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in Tecnoglass by 3.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 9,596 shares of the company's stock worth $659,000 after acquiring an additional 287 shares in the last quarter. Lisanti Capital Growth LLC bought a new position in shares of Tecnoglass in the 3rd quarter worth $1,892,000. Atria Investments Inc boosted its stake in Tecnoglass by 43.0% in the third quarter. Atria Investments Inc now owns 7,071 shares of the company's stock valued at $485,000 after acquiring an additional 2,125 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in Tecnoglass during the 3rd quarter valued at about $2,211,000. Institutional investors own 37.35% of the company's stock.

Insider Buying and Selling at Tecnoglass

In related news, 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 value of $104,573,402.40. Following the completion of the sale, the insider now owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Julio A. Torres sold 30,520 shares of the firm's 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 disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

Tecnoglass Stock Performance

TGLS traded up $0.68 during trading on Monday, reaching $73.85. 246,876 shares of the company were exchanged, compared to its average volume of 371,146. 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 Inc. has a 52 week low of $33.19 and a 52 week high of $80.51. The firm has a 50 day moving average of $70.13 and a 200 day moving average of $59.05. The stock has a market cap of $3.47 billion, a P/E ratio of 23.08 and a beta of 1.86.

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 the consensus estimate of $0.97 by $0.11. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The company had revenue of $237.90 million for the quarter, compared to analysts' expectations of $240.19 million. During the same quarter in the prior year, the company earned $0.98 earnings per share. The firm's revenue was up 13.1% on a year-over-year basis. On average, sell-side analysts forecast that Tecnoglass Inc. will post 3.55 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.44 annualized dividend and a yield of 0.60%. Tecnoglass's dividend payout ratio (DPR) is presently 13.75%.

Wall Street Analyst Weigh In

Several analysts have commented 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. B. Riley reaffirmed a "neutral" rating and issued a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Stifel Nicolaus increased their target price on Tecnoglass from $50.00 to $59.00 and gave the stock a "hold" rating in a research note on Friday, August 9th. DA Davidson upped their price target on Tecnoglass from $65.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Finally, 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. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Tecnoglass has an average rating of "Hold" and an average price target 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.