JPMorgan Chase & Co. Acquires 11,649 Shares of Tecnoglass Inc. $TGLS

JPMorgan Chase & Co. grew its holdings in shares of Tecnoglass Inc. (NYSE:TGLS) by 53.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 33,460 shares of the company’s stock after buying an additional 11,649 shares during the period. JPMorgan Chase & Co.’s holdings in Tecnoglass were worth $2,239,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd grew its stake in shares of Tecnoglass by 223.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock valued at $43,000 after buying an additional 440 shares during the last quarter. Voloridge Investment Management LLC grew its stake in shares of Tecnoglass by 151.4% during the third quarter. Voloridge Investment Management LLC now owns 219,072 shares of the company’s stock valued at $14,658,000 after buying an additional 131,933 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in shares of Tecnoglass by 25.4% during the third quarter. Qube Research & Technologies Ltd now owns 148,029 shares of the company’s stock valued at $9,905,000 after buying an additional 29,991 shares during the last quarter. Millennium Management LLC grew its stake in shares of Tecnoglass by 352.1% during the third quarter. Millennium Management LLC now owns 181,745 shares of the company’s stock valued at $12,161,000 after buying an additional 141,542 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Tecnoglass by 48.1% during the third quarter. Ameriprise Financial Inc. now owns 47,562 shares of the company’s stock valued at $3,183,000 after buying an additional 15,453 shares during the last quarter. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Stock Down 0.4%

Shares of NYSE:TGLS opened at $43.61 on Tuesday. Tecnoglass Inc. has a 52-week low of $39.53 and a 52-week high of $90.34. The stock has a market cap of $1.95 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 0.55 and a beta of 1.55. The business’s 50 day moving average is $46.83 and its 200 day moving average is $52.22. The company has a quick ratio of 1.25, a current ratio of 1.86 and a debt-to-equity ratio of 0.24.

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

Tecnoglass Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.4%. Tecnoglass’s dividend payout ratio is currently 17.54%.

Analysts Set New Price Targets

Several research analysts recently issued reports on TGLS shares. DA Davidson dropped their price objective on Tecnoglass from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Zacks Research cut Tecnoglass from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Tecnoglass in a research note on Monday, December 22nd. Finally, B. Riley Financial dropped their price objective on Tecnoglass from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Two research 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’s stock. According to MarketBeat.com, Tecnoglass has a consensus rating of “Hold” and an average target price of $67.50.

Insiders Place Their Bets

In related news, Director Anne Louise Carricarte bought 1,100 shares of the stock in a transaction 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. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Holding Corp Energy bought 107,629 shares of the stock in a transaction on Friday, March 13th. The shares were bought at an average price of $45.11 per share, with a total value of $4,855,144.19. Following the acquisition, the insider owned 20,731,985 shares of the company’s stock, valued at $935,219,843.35. This trade represents a 0.52% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 522,995 shares of company stock valued at $22,912,205. 0.06% of the stock is owned by company insiders.

Tecnoglass Company Profile

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.