Insider Selling: Tecnoglass Inc. (NASDAQ:TGLS) Director Sells 30,520 Shares of Stock

Tecnoglass Inc. (NASDAQ:TGLS) Director Julio A. Torres sold 30,520 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total value of $2,222,771.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Tecnoglass Price Performance

NASDAQ:TGLS traded down $5.43 during trading hours on Tuesday, reaching $73.94. 1,045,966 shares of the company were exchanged, compared to its average volume of 371,947. The company has a market capitalization of $3.48 billion, a P/E ratio of 22.87 and a beta of 1.86. Tecnoglass Inc. has a 1-year low of $32.69 and a 1-year high of $80.51. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80. The business has a 50 day moving average of $69.01 and a 200 day moving average of $58.52.

Tecnoglass (NASDAQ:TGLS) last announced its earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.11. Tecnoglass had a return on equity of 28.30% and a net margin of 17.82%. The business had revenue of $237.90 million during the quarter, compared to analyst estimates of $240.19 million. During the same period last year, the company earned $0.98 EPS. Tecnoglass’s revenue for the quarter was up 13.1% compared to the same quarter last year. Research analysts forecast that Tecnoglass Inc. will post 3.52 EPS for the current year.

Tecnoglass Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 yield of 0.60%. Tecnoglass’s dividend payout ratio is 13.75%.

Analyst Ratings Changes

TGLS has been the topic of a number of recent analyst reports. DA Davidson upped their target price on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday. Sidoti downgraded Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a report on Tuesday, October 22nd. B. Riley reiterated a “neutral” rating and issued a $72.00 price target (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Stifel Nicolaus boosted their price objective on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Tecnoglass currently has an average rating of “Hold” and an average target price of $77.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TGLS. Amalgamated Bank bought a new position in Tecnoglass during the second quarter valued at approximately $39,000. Signaturefd LLC raised its position in shares of Tecnoglass by 4,735.7% during the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after purchasing an additional 663 shares during the period. X Square Capital LLC raised its position in shares of Tecnoglass by 5.7% during the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after purchasing an additional 237 shares during the period. PFG Investments LLC bought a new stake in shares of Tecnoglass during the 2nd quarter valued at $220,000. Finally, EntryPoint Capital LLC purchased a new position in Tecnoglass during the first quarter valued at $227,000. 37.35% of the stock is currently 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.