Insider Selling: Tecnoglass Inc (NASDAQ:TGLS) Director Sells 1,500 Shares of Stock

Tecnoglass Inc (NASDAQ:TGLS) Director Martha L. Byorum sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $7.39, for a total transaction of $11,085.00. Following the completion of the transaction, the director now directly owns 72,564 shares of the company’s stock, valued at $536,247.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NASDAQ:TGLS traded down $0.04 during trading on Friday, hitting $7.41. 45,500 shares of the company’s stock were exchanged, compared to its average volume of 63,828. Tecnoglass Inc has a 1-year low of $6.08 and a 1-year high of $10.08. The firm has a 50-day moving average price of $7.20 and a two-hundred day moving average price of $7.22. The company has a current ratio of 2.41, a quick ratio of 1.75 and a debt-to-equity ratio of 1.38. The firm has a market cap of $331.07 million, a P/E ratio of 8.72, a PEG ratio of 0.45 and a beta of 0.97.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings results on Friday, August 9th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. Tecnoglass had a net margin of 4.04% and a return on equity of 21.77%. The company had revenue of $113.88 million during the quarter, compared to analysts’ expectations of $97.53 million. As a group, research analysts predict that Tecnoglass Inc will post 0.74 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 7.56%. The ex-dividend date of this dividend was Tuesday, July 30th. Tecnoglass’s dividend payout ratio is 65.88%.

A number of equities analysts have weighed in on TGLS shares. DA Davidson started coverage on shares of Tecnoglass in a research note on Thursday, May 30th. They issued a “buy” rating and a $9.00 target price for the company. Zacks Investment Research downgraded shares of Tecnoglass from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Raymond James raised shares of Tecnoglass from an “outperform” rating to a “strong-buy” rating and set a $10.00 target price for the company in a research note on Monday, July 1st. Dougherty & Co reaffirmed a “buy” rating on shares of Tecnoglass in a research note on Thursday, August 22nd. Finally, Robert W. Baird set a $11.00 target price on shares of Tecnoglass and gave the stock a “buy” rating in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Tecnoglass has a consensus rating of “Buy” and a consensus price target of $10.67.

Large investors have recently modified their holdings of the company. Rutabaga Capital Management LLC MA grew its position in shares of Tecnoglass by 11.9% during the 2nd quarter. Rutabaga Capital Management LLC MA now owns 740,547 shares of the company’s stock worth $4,806,000 after buying an additional 78,495 shares during the period. Shepherd Kaplan Krochuk LLC grew its holdings in Tecnoglass by 90.0% during the second quarter. Shepherd Kaplan Krochuk LLC now owns 38,000 shares of the company’s stock valued at $247,000 after purchasing an additional 18,000 shares during the period. Formula Growth Ltd. acquired a new position in Tecnoglass during the first quarter valued at approximately $2,912,000. Perritt Capital Management Inc. grew its holdings in Tecnoglass by 11.0% during the second quarter. Perritt Capital Management Inc. now owns 245,598 shares of the company’s stock valued at $1,594,000 after purchasing an additional 24,319 shares during the period. Finally, Monarch Partners Asset Management LLC grew its holdings in Tecnoglass by 2.0% during the second quarter. Monarch Partners Asset Management LLC now owns 104,539 shares of the company’s stock valued at $678,000 after purchasing an additional 2,029 shares during the period. Institutional investors own 12.70% of the company’s stock.

About Tecnoglass

Tecnoglass Inc, through its subsidiaries, manufactures, supplies, and installs architectural glass, windows, and associated aluminum products for the commercial and residential construction industries in North, Central, and South America. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.

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