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Virtu Financial LLC Makes New $422,000 Investment in Tecnoglass Inc. (NASDAQ:TGLS)

Tecnoglass logo with Retail/Wholesale background

Virtu Financial LLC bought a new stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,152 shares of the company's stock, valued at approximately $422,000.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its position in 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 buying an additional 447,647 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in shares of Tecnoglass by 219.7% in the second quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company's stock valued at $10,949,000 after acquiring an additional 149,933 shares in the last quarter. William Blair Investment Management LLC increased its stake 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 acquiring an additional 140,112 shares during the period. Dimensional Fund Advisors LP raised its holdings in Tecnoglass by 12.3% during the second quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company's stock worth $44,385,000 after purchasing an additional 96,602 shares in the last quarter. Finally, State Street Corp lifted its position in Tecnoglass by 29.1% in the third quarter. State Street Corp now owns 416,964 shares of the company's stock valued at $28,674,000 after purchasing an additional 93,968 shares during the period. Institutional investors and hedge funds own 37.35% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Holding Corp Energy sold 1,432,120 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 23,195,988 shares of the company's stock, valued at $1,693,771,043.76. The trade was a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Julio A. Torres sold 30,520 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The shares were 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. Insiders own 0.25% of the company's stock.

Tecnoglass Price Performance

TGLS traded up $0.84 during trading on Monday, reaching $84.56. 227,764 shares of the stock were exchanged, compared to its average volume of 361,282. Tecnoglass Inc. has a 1 year low of $40.94 and a 1 year high of $86.08. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 26.43 and a beta of 1.89. The business's 50 day moving average price is $75.97 and its two-hundred day moving average price is $62.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last released 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 period in the previous year, the firm earned $0.98 EPS. The business's revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Tecnoglass Inc. will post 3.55 earnings per share for the current year.

Tecnoglass Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.71%. This is a boost from Tecnoglass's previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, December 31st. Tecnoglass's dividend payout ratio (DPR) is 13.75%.

Analysts Set New Price Targets

Several equities analysts have issued reports on TGLS shares. Raymond James cut Tecnoglass from a "strong-buy" rating to a "market perform" rating in a research report on Tuesday, October 22nd. DA Davidson upped their price objective on Tecnoglass from $65.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. StockNews.com started coverage on Tecnoglass in a report on Saturday. They issued a "hold" rating for the company. 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 note on Friday, November 8th. Finally, B. Riley reiterated a "neutral" rating and issued a $72.00 price objective (up previously from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Tecnoglass presently has a consensus rating of "Hold" and a consensus target price of $77.40.

Read Our Latest Stock Report on Tecnoglass

Tecnoglass Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Tecnoglass (NASDAQ:TGLS)

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