UBS Group AG Has $4.03 Million Position in Tecnoglass Inc. $TGLS

UBS Group AG lowered its stake in shares of Tecnoglass Inc. (NYSE:TGLS) by 56.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 80,154 shares of the company’s stock after selling 104,401 shares during the quarter. UBS Group AG’s holdings in Tecnoglass were worth $4,033,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TGLS. First Horizon Corp grew its position in Tecnoglass by 63.3% during the fourth quarter. First Horizon Corp now owns 673 shares of the company’s stock worth $34,000 after buying an additional 261 shares in the last quarter. Federated Hermes Inc. grew its position in Tecnoglass by 290.2% during the third quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock worth $40,000 after buying an additional 444 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in Tecnoglass by 223.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock worth $43,000 after buying an additional 440 shares in the last quarter. Covestor Ltd grew its position in Tecnoglass by 52.9% during the third quarter. Covestor Ltd now owns 2,282 shares of the company’s stock worth $153,000 after buying an additional 790 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Tecnoglass during the third quarter worth approximately $178,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Holding Corp Energy purchased 107,629 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $45.11 per share, for a total transaction of $4,855,144.19. Following the purchase, the insider owned 20,731,985 shares of the company’s stock, valued at approximately $935,219,843.35. The trade was a 0.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anne Louise Carricarte purchased 1,100 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was purchased at an average price of $43.27 per share, with a total value of $47,597.00. Following the completion of the purchase, the director directly owned 1,100 shares in the company, valued at $47,597. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 622,995 shares of company stock valued at $26,962,660 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on TGLS. Weiss Ratings downgraded Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday. B. Riley Financial reduced their target price on Tecnoglass from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, March 6th. DA Davidson reduced their target price on Tecnoglass from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Zacks Research downgraded Tecnoglass from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Finally, Robert W. Baird reduced their target price on Tecnoglass from $62.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $63.33.

Tecnoglass Trading Down 0.4%

Shares of TGLS stock opened at $41.06 on Friday. The stock’s fifty day moving average price is $42.83 and its two-hundred day moving average price is $47.57. The company has a market cap of $1.82 billion, a PE ratio of 12.71, a P/E/G ratio of 0.68 and a beta of 1.42. Tecnoglass Inc. has a fifty-two week low of $37.52 and a fifty-two week high of $90.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.77.

Tecnoglass (NYSE:TGLS) last issued its earnings results on Friday, May 8th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The firm had revenue of $249.01 million for the quarter, compared to the consensus estimate of $243.00 million. Tecnoglass had a return on equity of 21.51% and a net margin of 14.77%.The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. Equities analysts predict that Tecnoglass Inc. will post 2.73 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, March 31st. Tecnoglass’s dividend payout ratio is presently 18.58%.

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.