Tecnoglass (NASDAQ:TGLS) Shares Down 4% – Time to Sell?

Shares of Tecnoglass Inc. (NASDAQ:TGLS) traded down 4% on Friday . The stock traded as low as $75.71 and last traded at $75.71. 85,591 shares traded hands during trading, a decline of 50% from the average session volume of 169,884 shares. The stock had previously closed at $78.89.

Wall Street Analyst Weigh In

TGLS has been the subject of a number of recent analyst reports. Sidoti cut shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a research report on Tuesday, October 22nd. B. Riley reissued a “neutral” rating and issued a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. DA Davidson lifted their price objective on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. StockNews.com assumed coverage on Tecnoglass in a report on Saturday, December 14th. They issued a “hold” rating on the stock. Finally, Robert W. Baird boosted their price objective on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Five investment 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, the company currently has a consensus rating of “Hold” and an average target price of $77.40.

Tecnoglass Stock Down 3.8 %

The firm has a market cap of $3.57 billion, a PE ratio of 23.73 and a beta of 1.89. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average price of $77.71 and a 200-day moving average price of $65.73.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings results 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. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The company had revenue of $237.90 million during the quarter, compared to the consensus estimate of $240.19 million. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. Research analysts forecast that Tecnoglass Inc. will post 3.55 EPS for the current fiscal year.

Tecnoglass Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. This represents a $0.60 dividend on an annualized basis and a yield of 0.79%. Tecnoglass’s dividend payout ratio (DPR) is currently 18.75%.

Insiders Place Their Bets

In other news, Director Julio A. Torres sold 30,520 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total transaction of $2,222,771.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total value of $104,573,402.40. Following the sale, the insider now directly owns 23,195,988 shares in the company, valued at $1,693,771,043.76. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in Tecnoglass by 29.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock worth $134,994,000 after buying an additional 447,647 shares during the last quarter. William Blair Investment Management LLC grew its stake in Tecnoglass by 8.7% during the 2nd quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock worth $88,060,000 after buying an additional 140,112 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Tecnoglass by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after buying an additional 96,602 shares during the last quarter. Geode Capital Management LLC grew its stake in Tecnoglass by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 500,265 shares of the company’s stock worth $34,355,000 after buying an additional 22,700 shares during the last quarter. Finally, State Street Corp grew its stake in Tecnoglass by 29.1% during the 3rd quarter. State Street Corp now owns 416,964 shares of the company’s stock worth $28,674,000 after buying an additional 93,968 shares during the last quarter. Hedge funds and other institutional investors own 37.35% of the company’s stock.

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.