Calamos Advisors LLC Sells 9,091 Shares of Tecnoglass Inc. (NASDAQ:TGLS)

Calamos Advisors LLC trimmed its holdings in Tecnoglass Inc. (NASDAQ:TGLS) by 37.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 15,266 shares of the company’s stock after selling 9,091 shares during the quarter. Calamos Advisors LLC’s holdings in Tecnoglass were worth $1,211,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TGLS. Wellington Management Group LLP grew its stake in shares of Tecnoglass by 29.5% in the third quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock worth $134,994,000 after acquiring an additional 447,647 shares during the period. Geode Capital Management LLC boosted its holdings in Tecnoglass by 4.8% in the third quarter. Geode Capital Management LLC now owns 500,265 shares of the company’s stock worth $34,355,000 after purchasing an additional 22,700 shares during the last quarter. State Street Corp grew its position in Tecnoglass by 29.1% in the 3rd quarter. State Street Corp now owns 416,964 shares of the company’s stock worth $28,674,000 after purchasing an additional 93,968 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Tecnoglass by 8.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 183,400 shares of the company’s stock valued at $12,592,000 after buying an additional 13,803 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in shares of Tecnoglass by 65.0% during the 3rd quarter. Impax Asset Management Group plc now owns 165,000 shares of the company’s stock valued at $11,329,000 after buying an additional 65,000 shares during the period. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass 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 sale, the insider now directly owns 23,195,988 shares of the company’s stock, valued at approximately $1,693,771,043.76. The trade was a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Julio A. Torres sold 30,520 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on TGLS. Robert W. Baird upped their price objective on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Raymond James lowered shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. StockNews.com began coverage on shares of Tecnoglass in a research note on Saturday, December 14th. They issued a “hold” rating on the stock. DA Davidson boosted their target price 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. Finally, Sidoti downgraded shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research report on Tuesday, October 22nd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $77.40.

Tecnoglass Stock Performance

Shares of NASDAQ TGLS opened at $75.86 on Wednesday. The stock has a market cap of $3.56 billion, a PE ratio of 23.71 and a beta of 1.88. Tecnoglass Inc. has a 1 year low of $40.94 and a 1 year high of $86.99. The firm has a fifty day moving average price of $80.30 and a 200-day moving average price of $70.77. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.11. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The business had revenue of $237.90 million during the quarter, compared to analyst estimates of $240.19 million. During the same quarter in the prior year, the business posted $0.98 EPS. Tecnoglass’s revenue for the quarter was up 13.1% compared to the same quarter last year. Equities analysts anticipate that Tecnoglass Inc. will post 3.55 earnings per share for the current fiscal year.

Tecnoglass Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.79%. The ex-dividend date was 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%.

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.