Tredegar Corporation $TG Stake Lessened by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lessened its stake in shares of Tredegar Corporation (NYSE:TG) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,096,631 shares of the basic materials company’s stock after selling 206,053 shares during the quarter. Gamco Investors INC. ET AL owned about 17.41% of Tredegar worth $48,468,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in Tredegar by 31.4% during the 1st quarter. AQR Capital Management LLC now owns 17,158 shares of the basic materials company’s stock valued at $132,000 after purchasing an additional 4,097 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Tredegar in the 1st quarter worth $144,000. Geode Capital Management LLC raised its stake in shares of Tredegar by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 589,275 shares of the basic materials company’s stock worth $5,187,000 after buying an additional 1,506 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Tredegar by 4.8% in the second quarter. Rhumbline Advisers now owns 44,096 shares of the basic materials company’s stock valued at $388,000 after buying an additional 2,021 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Tredegar by 225.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,889 shares of the basic materials company’s stock valued at $61,000 after buying an additional 4,771 shares during the period. Institutional investors own 79.24% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Tredegar from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Insider Activity

In other news, major shareholder William M. Gottwald sold 20,145 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $8.16, for a total transaction of $164,383.20. Following the completion of the sale, the insider directly owned 408,767 shares of the company’s stock, valued at $3,335,538.72. This trade represents a 4.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder James T. Gottwald sold 15,808 shares of Tredegar stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $8.04, for a total value of $127,096.32. Following the completion of the transaction, the insider owned 435,065 shares in the company, valued at $3,497,922.60. The trade was a 3.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 153,338 shares of company stock worth $1,236,609. Insiders own 2.50% of the company’s stock.

Tredegar Price Performance

NYSE TG opened at $7.66 on Friday. Tredegar Corporation has a 12 month low of $6.25 and a 12 month high of $10.53. The company has a market capitalization of $268.11 million, a P/E ratio of 9.11 and a beta of 0.75. The company’s 50 day simple moving average is $7.76 and its 200 day simple moving average is $8.29.

Tredegar (NYSE:TG) last issued its earnings results on Friday, May 8th. The basic materials company reported $0.15 earnings per share for the quarter. The firm had revenue of $186.49 million during the quarter. Tredegar had a net margin of 3.89% and a return on equity of 12.91%.

Tredegar Profile

Tredegar Corporation is a diversified manufacturer specializing in high-performance plastic films and aluminum extrusions. Headquartered in Richmond, Virginia, the company operates through two primary segments—Films and Manufactured Products—serving a broad range of industries that include flexible packaging, medical devices, electronics, building and construction. Tredegar’s operations focus on delivering tailored solutions that meet demanding specifications for barrier properties, film strength and extrusion tolerances.

The Films segment produces a variety of polyolefin films, including cast and blown polyethylene, BOPP (biaxially oriented polypropylene), barrier films and specialty medical-grade films.