Cooke & Bieler LP Sells 67,626 Shares of Tecnoglass Inc. $TGLS

Cooke & Bieler LP cut its holdings in Tecnoglass Inc. (NYSE:TGLS) by 12.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 487,371 shares of the company’s stock after selling 67,626 shares during the period. Cooke & Bieler LP’s holdings in Tecnoglass were worth $24,525,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Capital World Investors boosted its holdings in Tecnoglass by 6.2% in the 3rd quarter. Capital World Investors now owns 1,794,272 shares of the company’s stock worth $120,055,000 after buying an additional 104,132 shares during the period. First Trust Advisors LP boosted its holdings in Tecnoglass by 3.1% in the 3rd quarter. First Trust Advisors LP now owns 1,026,970 shares of the company’s stock valued at $68,715,000 after purchasing an additional 30,834 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Tecnoglass by 1.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,022,566 shares of the company’s stock valued at $68,423,000 after purchasing an additional 14,432 shares during the period. American Century Companies Inc. boosted its holdings in Tecnoglass by 9.6% in the 3rd quarter. American Century Companies Inc. now owns 1,022,101 shares of the company’s stock valued at $68,389,000 after purchasing an additional 89,175 shares during the period. Finally, William Blair Investment Management LLC boosted its holdings in Tecnoglass by 2.2% in the 3rd quarter. William Blair Investment Management LLC now owns 937,463 shares of the company’s stock valued at $62,726,000 after purchasing an additional 20,071 shares during the period. 37.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tecnoglass news, major shareholder Holding Corp Energy purchased 19,121 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of $40.27 per share, with a total value of $770,002.67. Following the completion of the purchase, the insider directly owned 20,831,985 shares of the company’s stock, valued at $838,904,035.95. The trade was a 0.09% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Anne Louise Carricarte purchased 1,100 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average cost of $43.27 per share, with a total value of $47,597.00. Following the purchase, the director directly owned 1,100 shares of the company’s stock, valued at $47,597. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 622,995 shares of company stock valued at $26,962,660 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on TGLS. Weiss Ratings downgraded shares of Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 20th. Robert W. Baird cut their price target on shares of Tecnoglass from $62.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. B. Riley Financial cut their price target on shares of Tecnoglass from $70.00 to $65.00 and set a “buy” rating for the company in a report on Friday, March 6th. Zacks Research downgraded shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Finally, DA Davidson cut their price target on shares of Tecnoglass from $80.00 to $70.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Tecnoglass currently has an average rating of “Hold” and a consensus price target of $63.33.

Tecnoglass Stock Down 0.3%

Shares of NYSE TGLS opened at $41.06 on Tuesday. The stock has a market capitalization of $1.82 billion, a P/E ratio of 12.71, a PEG ratio of 0.68 and a beta of 1.42. Tecnoglass Inc. has a one year low of $37.52 and a one year high of $90.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.15. The firm’s 50 day simple moving average is $42.75 and its two-hundred day simple moving average is $47.37.

Tecnoglass (NYSE:TGLS) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $243.00 million. Tecnoglass had a return on equity of 21.51% and a net margin of 14.77%.The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 earnings per share. As a group, analysts expect that Tecnoglass Inc. will post 2.73 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

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

Tecnoglass 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.