Tredegar’s (TG) Sell (D-) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their sell (d-) rating on shares of Tredegar (NYSE:TG) in a research note issued to investors on Friday,Weiss Ratings reports.

Tredegar Stock Up 2.0%

NYSE:TG opened at $7.47 on Friday. Tredegar has a 52 week low of $6.45 and a 52 week high of $9.43. The firm has a 50 day moving average of $7.76 and a 200 day moving average of $8.13. The stock has a market capitalization of $260.52 million, a price-to-earnings ratio of -3.95 and a beta of 0.78.

Tredegar (NYSE:TG) last posted its quarterly earnings results on Friday, August 8th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $180.50 million during the quarter. Tredegar had a negative net margin of 9.51% and a positive return on equity of 4.17%.

Insiders Place Their Bets

In other Tredegar news, major shareholder William M. Gottwald sold 16,087 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $8.01, for a total value of $128,856.87. Following the completion of the transaction, the insider owned 759,810 shares of the company’s stock, valued at approximately $6,086,078.10. This trade represents a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder John D. Gottwald sold 16,086 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $8.01, for a total transaction of $128,848.86. Following the completion of the transaction, the insider directly owned 759,811 shares of the company’s stock, valued at approximately $6,086,086.11. This represents a 2.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,485 shares of company stock valued at $577,626. Corporate insiders own 5.80% of the company’s stock.

Institutional Trading of Tredegar

A number of hedge funds and other institutional investors have recently made changes to their positions in TG. Bank of New York Mellon Corp increased its stake in shares of Tredegar by 4.5% in the first quarter. Bank of New York Mellon Corp now owns 76,074 shares of the basic materials company’s stock worth $586,000 after acquiring an additional 3,278 shares during the period. Choreo LLC acquired a new stake in shares of Tredegar in the first quarter worth $241,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Tredegar in the first quarter worth $131,000. Charles Schwab Investment Management Inc. increased its stake in shares of Tredegar by 190.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 217,954 shares of the basic materials company’s stock worth $1,678,000 after acquiring an additional 142,822 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Tredegar in the first quarter worth $1,854,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

Tredegar Company Profile

Tredegar Corporation manufactures and sells aluminum extrusions, polyethylene (PE) films, and plastic and polyester films in the United States and internationally. It operates through three segments: Aluminum Extrusions, PE Films, and Flexible Packaging Films. The Aluminum Extrusions segment produces soft and medium strength alloyed aluminum extrusions, custom fabricated and finished aluminum extrusions for the building and construction, automotive and transportation, consumer durables, machinery and equipment, electrical and renewable energy, and distribution markets; and manufactures mill, anodized, and painted and alloyed aluminum extrusions to fabricators and distributors.