Sanctuary Advisors LLC Has $1.41 Million Stake in Tecnoglass Inc. (NASDAQ:TGLS)

Sanctuary Advisors LLC trimmed its position in Tecnoglass Inc. (NASDAQ:TGLS) by 42.1% during the third quarter, HoldingsChannel.com reports. The firm owned 20,481 shares of the company’s stock after selling 14,876 shares during the quarter. Sanctuary Advisors LLC’s holdings in Tecnoglass were worth $1,406,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Virtu Financial LLC acquired a new position in Tecnoglass during the 3rd quarter worth approximately $422,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Tecnoglass in the third quarter worth $1,409,000. Geode Capital Management LLC boosted its holdings in Tecnoglass by 4.8% during the third quarter. Geode Capital Management LLC now owns 500,265 shares of the company’s stock worth $34,355,000 after purchasing an additional 22,700 shares during the last quarter. Barclays PLC grew its position in Tecnoglass by 32.2% in the third quarter. Barclays PLC now owns 35,376 shares of the company’s stock valued at $2,429,000 after purchasing an additional 8,613 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake 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. 37.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Sidoti downgraded shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research note on Tuesday, October 22nd. Robert W. Baird increased their price target on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. DA Davidson boosted 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. Raymond James downgraded Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Finally, StockNews.com began coverage on shares of Tecnoglass in a report on Saturday, December 14th. They set a “hold” rating on the stock. Five 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, the company currently has an average rating of “Hold” and a consensus price target of $77.40.

Insider Activity at Tecnoglass

In related news, Director Julio A. Torres sold 30,520 shares of Tecnoglass stock in a transaction that occurred on 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the company’s stock in a transaction 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 directly owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Tecnoglass Price Performance

Shares of NASDAQ TGLS opened at $80.06 on Friday. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average price is $76.52 and its two-hundred day moving average price is $63.60. The company has a market cap of $3.76 billion, a PE ratio of 25.02 and a beta of 1.89. Tecnoglass Inc. has a twelve month low of $40.94 and a twelve month high of $86.08.

Tecnoglass (NASDAQ:TGLS) last posted its earnings results on Thursday, November 7th. The company reported $1.08 earnings per share 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 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 firm’s revenue was up 13.1% compared to the same quarter last year. On average, analysts predict that Tecnoglass Inc. will post 3.55 EPS for the current year.

Tecnoglass Increases Dividend

The business also recently announced 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 0.75%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s dividend payout ratio (DPR) is currently 18.75%.

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.