Weiss Asset Management LP Buys Shares of 37,175 Tecnoglass Inc. $TGLS

Weiss Asset Management LP purchased a new stake in Tecnoglass Inc. (NYSE:TGLS) during the first quarter, according to its most recent filing with the SEC. The firm purchased 37,175 shares of the company’s stock, valued at approximately $1,656,000. Weiss Asset Management LP owned 0.08% of Tecnoglass at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Royal Bank of Canada boosted its position in Tecnoglass by 8.3% during the first quarter. Royal Bank of Canada now owns 3,121 shares of the company’s stock valued at $224,000 after purchasing an additional 238 shares in the last quarter. AQR Capital Management LLC grew its stake in Tecnoglass by 25.8% in the first quarter. AQR Capital Management LLC now owns 3,505 shares of the company’s stock valued at $251,000 after purchasing an additional 719 shares during the last quarter. Intech Investment Management LLC raised its holdings in Tecnoglass by 21.4% in the first quarter. Intech Investment Management LLC now owns 17,918 shares of the company’s stock worth $1,282,000 after purchasing an additional 3,161 shares in the last quarter. Legal & General Group Plc raised its holdings in Tecnoglass by 23.9% in the second quarter. Legal & General Group Plc now owns 5,115 shares of the company’s stock worth $396,000 after purchasing an additional 987 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of Tecnoglass during the second quarter valued at about $217,000. 37.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TGLS. Weiss Ratings downgraded shares of Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 20th. Zacks Research raised shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a research report on Friday, June 12th. Finally, Robert W. Baird lowered their target price on shares of Tecnoglass from $62.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.33.

Insider Buying and Selling

In related news, major shareholder Holding Corp Energy bought 19,121 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average cost of $40.27 per share, for a total transaction of $770,002.67. Following the purchase, the insider directly owned 20,831,985 shares of the company’s stock, valued at approximately $838,904,035.95. This trade represents a 0.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by company insiders.

Tecnoglass Stock Down 0.1%

Shares of TGLS stock opened at $45.26 on Monday. The stock’s fifty day moving average price is $44.01 and its 200 day moving average price is $45.67. Tecnoglass Inc. has a 1-year low of $37.52 and a 1-year high of $83.32. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 14.01 and a beta of 1.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.15.

Tecnoglass (NYSE:TGLS) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Tecnoglass had a return on equity of 21.51% and a net margin of 14.77%.The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 earnings per share. On average, research analysts expect that Tecnoglass Inc. will post 2.73 earnings per share for the current fiscal year.

Tecnoglass Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Tecnoglass’s dividend payout ratio (DPR) 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.