USA Financial Formulas Makes New $26,000 Investment in Tecnoglass Inc. (NASDAQ:TGLS)

USA Financial Formulas bought a new position in shares of Tecnoglass Inc. (NASDAQ:TGLS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 324 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds have also modified their holdings of TGLS. Amalgamated Bank acquired a new stake in shares of Tecnoglass in the second quarter valued at approximately $39,000. Signaturefd LLC increased its stake in shares of Tecnoglass by 4,735.7% in the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after acquiring an additional 663 shares during the last quarter. DGS Capital Management LLC purchased a new position in shares of Tecnoglass during the 3rd quarter worth $204,000. Wolverine Trading LLC acquired a new position in shares of Tecnoglass during the 3rd quarter valued at about $225,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Tecnoglass in the fourth quarter valued at about $243,000. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Julio A. Torres sold 30,520 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total transaction of $2,222,771.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the completion of the sale, the insider now directly owns 23,195,988 shares in the company, valued at approximately $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.

Tecnoglass Stock Up 3.3 %

NASDAQ:TGLS opened at $83.98 on Friday. Tecnoglass Inc. has a 52 week low of $40.94 and a 52 week high of $86.08. The stock’s fifty day moving average is $79.29 and its two-hundred day moving average is $68.16. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 26.24 and a beta of 1.90. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20.

Tecnoglass (NASDAQ:TGLS) last announced its earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.11. The company had revenue of $237.90 million during the quarter, compared to analysts’ expectations of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. Tecnoglass’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. Research analysts anticipate that Tecnoglass Inc. will post 3.55 EPS for the current year.

Tecnoglass Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.15 per share. This is an increase from Tecnoglass’s previous quarterly dividend of $0.11. This represents a $0.60 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Tuesday, December 31st. Tecnoglass’s dividend payout ratio is presently 18.75%.

Analysts Set New Price Targets

TGLS has been the topic of several recent analyst reports. B. Riley reiterated a “neutral” rating and issued a $72.00 target price (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Raymond James cut Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. DA Davidson lifted their target price on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Sidoti lowered Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research note on Tuesday, October 22nd. Finally, Robert W. Baird raised their price objective on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $77.40.

Tecnoglass Company Profile

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.