Tecnoglass (NYSE:TGLS) Sets New 12-Month Low – Time to Sell?

Tecnoglass Inc. (NYSE:TGLS) shares hit a new 52-week low on Monday. The company traded as low as $34.17 and last traded at $34.8790, with a volume of 49986 shares trading hands. The stock had previously closed at $35.44.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TGLS shares. Zacks Research downgraded shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a research note on Monday, September 21st. Weiss Ratings cut Tecnoglass from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, September 17th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Tecnoglass presently has an average rating of “Hold” and an average price target of $63.33.

Tecnoglass Stock Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.17 and a current ratio of 1.86. The business has a 50-day moving average price of $40.98 and a 200 day moving average price of $42.61. The stock has a market capitalization of $1.54 billion and a P/E ratio of 12.24.

Tecnoglass (NYSE:TGLS) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $295.29 million during the quarter. Tecnoglass had a return on equity of 17.84% and a net margin of 12.35%.The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the business earned $1.03 EPS. As a group, sell-side analysts forecast that Tecnoglass Inc. will post 2.57 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Tecnoglass’s dividend payout ratio is currently 21.13%.

Hedge Funds Weigh In On Tecnoglass

A number of hedge funds have recently bought and sold shares of TGLS. Fourth Sail Capital LP bought a new stake in shares of Tecnoglass in the fourth quarter worth $17,461,000. Dimensional Fund Advisors LP lifted its holdings in Tecnoglass by 15.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,243,496 shares of the company’s stock valued at $55,395,000 after acquiring an additional 161,955 shares during the period. Thompson Siegel & Walmsley LLC lifted its holdings in Tecnoglass by 263.3% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 76,300 shares of the company’s stock valued at $3,839,000 after acquiring an additional 55,300 shares during the period. CenterBook Partners LP grew its stake in shares of Tecnoglass by 64.2% during the 4th quarter. CenterBook Partners LP now owns 130,761 shares of the company’s stock valued at $6,580,000 after purchasing an additional 51,145 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in shares of Tecnoglass during the 1st quarter valued at about $1,656,000. Institutional investors own 37.35% of the company’s stock.

About Tecnoglass

Tecnoglass Inc is a manufacturer of architectural glass, windows and aluminum products for residential and commercial construction. The company produces impact-resistant and non-impact windows and doors, insulated and laminated glass, curtain-wall systems, storefronts, and aluminum profiles and framing systems.

Founded in 1994, Tecnoglass is headquartered in Barranquilla, Colombia, where it operates a vertically integrated manufacturing platform. Its products are used in new construction and renovation projects, including high-rise buildings, multifamily housing, commercial properties and single-family homes.

Tecnoglass serves customers primarily in the United States, as well as in Colombia and other international markets across Latin America and the Caribbean.