Teachers Retirement System of The State of Kentucky Invests $1.41 Million in Tecnoglass Inc. (NASDAQ:TGLS)

Teachers Retirement System of The State of Kentucky bought a new position in shares of Tecnoglass Inc. (NASDAQ:TGLS) in the third quarter, Holdings Channel reports. The firm bought 20,524 shares of the company’s stock, valued at approximately $1,409,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. 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 worth $687,000 after buying an additional 292 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Tecnoglass during the 2nd quarter valued at $3,929,000. Crossmark Global Holdings Inc. increased its holdings in Tecnoglass by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock valued at $355,000 after purchasing an additional 220 shares in the last quarter. Rothschild Investment LLC purchased a new position in Tecnoglass in the second quarter valued at about $909,000. Finally, Rhumbline Advisers purchased a new position in Tecnoglass in the second quarter valued at about $1,468,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

Insider Buying and Selling at Tecnoglass

In other news, major shareholder Holding Corp Energy sold 1,432,120 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julio A. Torres sold 30,520 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total value of $2,222,771.60. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TGLS. DA Davidson raised their target price on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. StockNews.com started coverage on shares of Tecnoglass in a research report on Saturday. They set a “hold” rating on the stock. B. Riley reaffirmed a “neutral” rating and set a $72.00 price target (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Raymond James lowered shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird raised their target price on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Five equities research 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.com, the company has a consensus rating of “Hold” and an average target price of $77.40.

Tecnoglass Trading Down 4.0 %

NASDAQ TGLS opened at $81.19 on Wednesday. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 25.37 and a beta of 1.89. 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 Inc. has a 12 month low of $40.94 and a 12 month high of $86.08. The company’s fifty day moving average price is $75.97 and its two-hundred day moving average price is $62.98.

Tecnoglass (NASDAQ:TGLS) last released its earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, topping 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 company had revenue of $237.90 million for the quarter, compared to the consensus estimate of $240.19 million. During the same quarter last year, the business posted $0.98 EPS. Tecnoglass’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, research analysts predict that Tecnoglass Inc. will post 3.55 earnings per share for the current fiscal year.

Tecnoglass Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s payout ratio is currently 18.75%.

Tecnoglass 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.