Tecnoglass (TGLS) Lowered to Hold at ValuEngine

ValuEngine lowered shares of Tecnoglass (NASDAQ:TGLS) from a buy rating to a hold rating in a research note issued to investors on Monday, February 4th.

A number of other equities analysts have also weighed in on the stock. BidaskClub lowered shares of Tecnoglass from a hold rating to a sell rating in a research note on Wednesday, October 31st. Zacks Investment Research lowered shares of Tecnoglass from a strong-buy rating to a hold rating in a research note on Thursday, October 11th. Dougherty & Co set a $13.00 target price on shares of Tecnoglass and gave the stock a buy rating in a research note on Thursday, November 8th. Finally, B. Riley increased their price objective on shares of Tecnoglass from $12.50 to $13.00 and gave the stock a buy rating in a research note on Thursday, November 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $11.75.

NASDAQ TGLS traded down $0.05 on Monday, reaching $8.80. The company had a trading volume of 17,128 shares, compared to its average volume of 18,430. The firm has a market cap of $318.29 million, a PE ratio of 27.50, a PEG ratio of 0.56 and a beta of 1.30. The company has a current ratio of 2.59, a quick ratio of 1.78 and a debt-to-equity ratio of 1.49. Tecnoglass has a 1-year low of $7.36 and a 1-year high of $10.29.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Thursday, January 31st were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, January 30th. This represents a $0.56 annualized dividend and a yield of 6.36%. Tecnoglass’s dividend payout ratio (DPR) is currently 175.00%.

In related news, Director Martha L. Byorum sold 5,994 shares of the firm’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $8.46, for a total value of $50,709.24. Following the completion of the sale, the director now directly owns 79,764 shares in the company, valued at approximately $674,803.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.

Large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Tecnoglass by 8,803.0% in the 4th quarter. BlackRock Inc. now owns 53,863 shares of the company’s stock valued at $435,000 after purchasing an additional 53,258 shares during the last quarter. Crestline Management LP acquired a new stake in Tecnoglass in the 3rd quarter valued at about $553,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Tecnoglass in the 4th quarter valued at about $687,000. California Public Employees Retirement System lifted its stake in Tecnoglass by 1.7% in the 4th quarter. California Public Employees Retirement System now owns 89,222 shares of the company’s stock valued at $720,000 after purchasing an additional 1,496 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Tecnoglass by 117.1% in the 3rd quarter. Renaissance Technologies LLC now owns 95,794 shares of the company’s stock valued at $942,000 after purchasing an additional 51,671 shares during the last quarter. Institutional investors and hedge funds own 4.33% of the company’s stock.

Tecnoglass Company Profile

Tecnoglass Inc, through its subsidiaries, manufactures and sells architectural glass, windows, and associated aluminum products for the global commercial and residential construction industries in North, Central, and South America. It offers soft coat, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass.

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