Tecnoglass (NASDAQ:TGLS) Sees Unusually-High Trading Volume – Time to Buy?

Tecnoglass Inc. (NASDAQ:TGLS) shares saw strong trading volume on Monday . 247,912 shares changed hands during mid-day trading, a decline of 2% from the previous session’s volume of 253,158 shares.The stock last traded at $74.66 and had previously closed at $84.47.

Analyst Upgrades and Downgrades

TGLS has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Tecnoglass in a research report on Saturday, December 14th. They set a “hold” rating for the company. B. Riley restated a “neutral” rating and issued a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Sidoti downgraded Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a report on Tuesday, October 22nd. Raymond James downgraded Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Finally, DA Davidson lifted their price target on shares of Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Tecnoglass presently has a consensus rating of “Hold” and a consensus price target of $77.40.

Tecnoglass Stock Down 6.4 %

The firm has a market capitalization of $3.71 billion, a PE ratio of 24.51 and a beta of 1.90. The stock has a 50-day simple moving average of $80.34 and a 200-day simple moving average of $69.61. 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 posted its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.11. The company had revenue of $237.90 million for the quarter, compared to analyst estimates of $240.19 million. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Analysts forecast that Tecnoglass Inc. will post 3.55 EPS for the current year.

Tecnoglass Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s dividend payout ratio (DPR) is 18.75%.

Insiders Place Their Bets

In related news, Director Julio A. Torres sold 30,520 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total value of $2,222,771.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the 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 transaction, the insider now owns 23,195,988 shares in the company, valued at $1,693,771,043.76. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Yorktown Management & Research Co Inc bought a new position in Tecnoglass in the fourth quarter worth about $222,000. R Squared Ltd bought a new stake in shares of Tecnoglass during the fourth quarter valued at approximately $70,000. Nilsine Partners LLC purchased a new position in Tecnoglass in the 4th quarter worth approximately $1,322,000. Linden Thomas Advisory Services LLC lifted its position in Tecnoglass by 22.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 14,597 shares of the company’s stock valued at $1,158,000 after acquiring an additional 2,646 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Tecnoglass in the 4th quarter worth $275,000. 37.35% of the stock is currently owned by institutional investors.

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.