Arizona State Retirement System raised its holdings in Tredegar Corporation (NYSE:TG) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,284 shares of the basic materials company’s stock after acquiring an additional 100 shares during the quarter. Arizona State Retirement System’s holdings in Tredegar Corporation were worth $203,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in the business. Municipal Employees Retirement System of Michigan grew its position in shares of Tredegar Corporation by 85.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,720 shares of the basic materials company’s stock worth $164,000 after buying an additional 4,950 shares in the last quarter. Texas Permanent School Fund grew its position in shares of Tredegar Corporation by 1.1% during the 2nd quarter. Texas Permanent School Fund now owns 18,570 shares of the basic materials company’s stock worth $283,000 after buying an additional 193 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its position in shares of Tredegar Corporation by 10.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 37,646 shares of the basic materials company’s stock worth $572,000 after buying an additional 3,450 shares in the last quarter. 62.67% of the stock is currently owned by institutional investors.
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A number of equities analysts have recently issued reports on TG shares. BidaskClub raised Tredegar Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 5th. TheStreet raised Tredegar Corporation from a “c+” rating to a “b-” rating in a research report on Friday, August 25th.
Tredegar Corporation (NYSE TG) opened at 16.10 on Wednesday. The stock’s 50 day moving average price is $16.23 and its 200-day moving average price is $16.45. Tredegar Corporation has a 52-week low of $14.65 and a 52-week high of $25.60. The company has a market cap of $530.66 million, a P/E ratio of 8.60 and a beta of 1.74.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be issued a $0.11 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.44 annualized dividend and a dividend yield of 2.73%. Tredegar Corporation’s dividend payout ratio is presently 23.53%.
Tredegar Corporation Company Profile
Tredegar Corporation is engaged in the manufacture of polyethylene plastic films, polyester films and aluminum extrusions. The Company’s segments are PE Films, Flexible Packaging Films and Aluminum Extrusions. The PE Films segment manufactures plastic films, elastics and laminate materials utilized in personal care materials, surface protection films and specialty and optical lighting applications.
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