Impax Asset Management Group plc Acquires 65,000 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Impax Asset Management Group plc lifted its holdings in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 65.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 165,000 shares of the company’s stock after acquiring an additional 65,000 shares during the quarter. Impax Asset Management Group plc owned approximately 0.35% of Tecnoglass worth $11,329,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank bought a new stake in Tecnoglass in the 2nd quarter valued at $39,000. Signaturefd LLC boosted its stake in Tecnoglass by 4,735.7% in 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 boosted its stake in Tecnoglass by 5.7% in 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 Tecnoglass in the 2nd quarter valued at $220,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Tecnoglass during the 1st quarter valued at $227,000. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Price Performance

Tecnoglass stock opened at $70.26 on Wednesday. Tecnoglass Inc. has a 52 week low of $28.21 and a 52 week high of $80.51. The stock has a fifty day moving average of $68.06 and a 200-day moving average of $58.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.43. The stock has a market capitalization of $3.30 billion, a P/E ratio of 22.52 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last issued its earnings results on Thursday, August 8th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The business had revenue of $219.65 million during the quarter, compared to analysts’ expectations of $219.29 million. During the same quarter in the prior year, the firm earned $1.12 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, sell-side analysts expect that Tecnoglass Inc. will post 3.46 earnings per share for the current fiscal year.

Tecnoglass Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given 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 0.63%. Tecnoglass’s dividend payout ratio (DPR) is presently 14.10%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Sidoti downgraded Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research report on Tuesday, October 22nd. Robert W. Baird upped their target price on Tecnoglass from $76.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. B. Riley reiterated a “neutral” rating and set a $72.00 target price (up from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Finally, Raymond James cut Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Tecnoglass has an average rating of “Hold” and a consensus price target of $67.33.

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.