Insider Selling: Tecnoglass Inc. (NASDAQ:TGLS) Director Sells $2,222,771.60 in Stock

Tecnoglass Inc. (NASDAQ:TGLS) Director Julio A. Torres sold 30,520 shares of the 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Tecnoglass Stock Performance

Shares of NASDAQ TGLS opened at $73.94 on Friday. The firm has a fifty day moving average price of $69.57 and a 200-day moving average price of $58.76. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. The stock has a market cap of $3.47 billion, a PE ratio of 23.11 and a beta of 1.86. Tecnoglass Inc. has a 1 year low of $33.19 and a 1 year high of $80.51.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.11. The firm had revenue of $237.90 million during 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 for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 earnings per share. Equities analysts anticipate that Tecnoglass Inc. will post 3.55 earnings per share for the current fiscal year.

Tecnoglass Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.11 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.60%. Tecnoglass’s dividend payout ratio (DPR) is presently 13.75%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TGLS shares. Raymond James downgraded shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Sidoti downgraded shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research report on Tuesday, October 22nd. Stifel Nicolaus increased their price target on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. B. Riley reiterated a “neutral” rating and issued a $72.00 price target (up from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Finally, Robert W. Baird increased 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $77.40.

Institutional Trading of Tecnoglass

A number of hedge funds and other institutional investors have recently modified their holdings of TGLS. Crossmark Global Holdings Inc. grew its stake in Tecnoglass by 3.2% during the second quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock valued at $355,000 after acquiring an additional 220 shares in the last quarter. X Square Capital LLC grew its stake in Tecnoglass by 5.7% during the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after acquiring an additional 237 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its stake in Tecnoglass by 3.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 9,596 shares of the company’s stock valued at $659,000 after acquiring an additional 287 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in Tecnoglass by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 13,681 shares of the company’s stock valued at $687,000 after acquiring an additional 292 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Tecnoglass by 4,735.7% during the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after acquiring an additional 663 shares in the last quarter. 37.35% of the stock is owned by hedge funds and other institutional investors.

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.