Impax Asset Management Group plc Has $11.33 Million Position in Tecnoglass Inc. (NASDAQ:TGLS)

Impax Asset Management Group plc boosted its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 65.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165,000 shares of the company’s stock after acquiring an additional 65,000 shares during the period. Impax Asset Management Group plc’s holdings in Tecnoglass were worth $11,329,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Cynosure Group LLC bought a new position in shares of Tecnoglass in the 1st quarter valued at $359,000. Clearbridge Investments LLC increased its stake in shares of Tecnoglass by 2.3% in the 1st quarter. Clearbridge Investments LLC now owns 389,876 shares of the company’s stock valued at $20,285,000 after purchasing an additional 8,913 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Tecnoglass in the 1st quarter valued at $227,000. Tidal Investments LLC bought a new position in shares of Tecnoglass in the 1st quarter valued at $245,000. Finally, Walleye Trading LLC increased its stake in shares of Tecnoglass by 664.2% in the 1st quarter. Walleye Trading LLC now owns 5,884 shares of the company’s stock valued at $306,000 after purchasing an additional 5,114 shares during the last quarter. Institutional investors own 37.35% of the company’s stock.

Insider Activity

In other news, major shareholder Holding Corp Energy sold 1,432,120 shares of the business’s stock in a transaction dated 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 directly owns 23,195,988 shares of the company’s stock, valued at $1,693,771,043.76. The trade was a 5.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Julio A. Torres sold 30,520 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were 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 company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on TGLS. DA Davidson lifted their price target on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday. Robert W. Baird raised their price objective on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, November 8th. B. Riley reissued a “neutral” rating and set a $72.00 price objective (up previously from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Stifel Nicolaus raised their price objective on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Sidoti downgraded Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Tecnoglass has an average rating of “Hold” and an average price target of $77.40.

Tecnoglass Stock Down 1.0 %

Shares of TGLS opened at $73.17 on Friday. The company has a market capitalization of $3.44 billion, a PE ratio of 22.87 and a beta of 1.86. Tecnoglass Inc. has a 12 month low of $33.19 and a 12 month high of $80.51. The stock’s 50-day moving average price is $70.13 and its two-hundred day moving average price is $58.98. The company has a current ratio of 2.21, a quick ratio of 1.63 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, topping the consensus estimate of $0.97 by $0.11. The firm had revenue of $237.90 million for the quarter, compared to the consensus estimate of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. On average, analysts anticipate that Tecnoglass Inc. will post 3.55 EPS for the current year.

Tecnoglass Announces Dividend

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

About Tecnoglass

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.