Chesapeake Capital Corp IL Buys Shares of 6,601 Tecnoglass Inc. (NASDAQ:TGLS)

Chesapeake Capital Corp IL bought a new stake in Tecnoglass Inc. (NASDAQ:TGLS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,601 shares of the company’s stock, valued at approximately $455,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in shares of Tecnoglass by 4,735.7% in the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after acquiring an additional 663 shares in the last quarter. Amalgamated Bank bought a new stake in shares of Tecnoglass in the second quarter worth about $39,000. EntryPoint Capital LLC bought a new stake in shares of Tecnoglass in the first quarter worth about $227,000. X Square Capital LLC increased its holdings in shares of Tecnoglass by 5.7% in the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after acquiring an additional 237 shares in the last quarter. Finally, PFG Investments LLC bought a new stake in shares of Tecnoglass in the second quarter worth about $220,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TGLS shares. Raymond James downgraded Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Stifel Nicolaus lifted their target price on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Robert W. Baird lifted their target price on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Sidoti downgraded Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research note on Tuesday, October 22nd. Finally, DA Davidson lifted their target price on Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Tecnoglass has a consensus rating of “Hold” and an average price target of $77.40.

Insider Activity at Tecnoglass

In other Tecnoglass news, major shareholder Holding Corp Energy sold 1,432,120 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total value of $104,573,402.40. Following the transaction, the insider now owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Julio A. Torres sold 30,520 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total value of $2,222,771.60. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Tecnoglass Price Performance

Shares of TGLS opened at $73.17 on Monday. Tecnoglass Inc. has a 12-month low of $33.19 and a 12-month high of $80.51. The business has a 50-day simple moving average of $70.13 and a two-hundred day simple moving average of $59.05. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The stock has a market cap of $3.44 billion, a PE ratio of 22.87 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last released its quarterly 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. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The firm had revenue of $237.90 million for the quarter, compared to analyst estimates of $240.19 million. During the same quarter in the previous year, the company posted $0.98 EPS. The business’s revenue was up 13.1% on a year-over-year basis. Analysts anticipate that Tecnoglass Inc. will post 3.55 earnings per share for the current fiscal year.

Tecnoglass Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.60%. Tecnoglass’s payout ratio is 13.75%.

Tecnoglass 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.