Insider Buying: Tecnoglass (NYSE:TGLS) Director Acquires $47,597.00 in Stock

Tecnoglass Inc. (NYSE:TGLS) Director Anne Louise Carricarte bought 1,100 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average price of $43.27 per share, for a total transaction of $47,597.00. Following the completion of the acquisition, the director directly owned 1,100 shares in the company, valued at approximately $47,597. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Tecnoglass Trading Down 0.2%

TGLS traded down $0.09 during trading on Friday, reaching $44.68. The company had a trading volume of 42,723 shares, compared to its average volume of 387,458. Tecnoglass Inc. has a 12-month low of $40.09 and a 12-month high of $90.34. The firm’s 50-day simple moving average is $49.87 and its 200 day simple moving average is $55.86. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 0.57 and a beta of 1.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.25 and a current ratio of 1.86.

Tecnoglass (NYSE:TGLS) last released its earnings results on Thursday, February 26th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.21). Tecnoglass had a return on equity of 23.05% and a net margin of 16.22%.The firm had revenue of $245.30 million during the quarter. During the same quarter in the prior year, the business posted $1.05 earnings per share. Tecnoglass’s quarterly revenue was up 3.0% compared to the same quarter last year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors raised its stake in shares of Tecnoglass by 6.2% in the third quarter. Capital World Investors now owns 1,794,272 shares of the company’s stock worth $120,055,000 after acquiring an additional 104,132 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Tecnoglass by 17.8% during the fourth quarter. First Trust Advisors LP now owns 1,209,419 shares of the company’s stock valued at $60,858,000 after purchasing an additional 182,449 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Tecnoglass by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,081,541 shares of the company’s stock valued at $54,427,000 after purchasing an additional 58,975 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Tecnoglass by 9.6% in the third quarter. American Century Companies Inc. now owns 1,022,101 shares of the company’s stock valued at $68,389,000 after purchasing an additional 89,175 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in Tecnoglass by 2.2% in the 3rd quarter. William Blair Investment Management LLC now owns 937,463 shares of the company’s stock worth $62,726,000 after purchasing an additional 20,071 shares during the last quarter. Institutional investors and hedge funds own 37.35% of the company’s stock.

Analyst Ratings Changes

TGLS has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Tecnoglass in a research report on Monday, December 22nd. Zacks Research cut Tecnoglass from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. B. Riley Financial dropped their price objective on shares of Tecnoglass from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Finally, DA Davidson cut their target price on Tecnoglass from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $67.50.

About Tecnoglass

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.