Tredegar (NYSE:TG) Issues Earnings Results

Tredegar (NYSE:TG) issued its quarterly earnings results on Friday. The basic materials company reported $0.18 EPS for the quarter, FiscalAI reports. The company had revenue of $216.24 million during the quarter. Tredegar had a net margin of 3.89% and a return on equity of 12.91%. During the same period in the previous year, the firm posted $0.05 EPS.

Tredegar Price Performance

Shares of NYSE:TG opened at $8.80 on Friday. Tredegar has a 1 year low of $6.25 and a 1 year high of $10.53. The firm has a market capitalization of $308.25 million, a PE ratio of 9.17 and a beta of 0.76. The business’s 50 day moving average price is $7.75 and its 200-day moving average price is $8.29.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Tredegar news, major shareholder William M. Gottwald sold 20,145 shares of Tredegar stock in a transaction on Friday, June 12th. The shares were sold at an average price of $8.16, for a total transaction of $164,383.20. Following the sale, the insider owned 408,767 shares of the company’s stock, valued at $3,335,538.72. The trade was a 4.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder John D. Gottwald sold 20,146 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $8.16, for a total transaction of $164,391.36. Following the transaction, the insider owned 408,767 shares in the company, valued at $3,335,538.72. The trade was a 4.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 153,338 shares of company stock valued at $1,236,609 in the last 90 days. 2.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Tredegar

Several hedge funds and other institutional investors have recently bought and sold shares of TG. Gamco Investors INC. ET AL boosted its holdings in Tredegar by 5.2% in the 4th quarter. Gamco Investors INC. ET AL now owns 6,302,684 shares of the basic materials company’s stock valued at $45,253,000 after purchasing an additional 311,833 shares during the last quarter. BlackRock Inc. purchased a new stake in Tredegar in the second quarter valued at $19,151,000. Vanguard Group Inc. raised its position in Tredegar by 8.4% in the third quarter. Vanguard Group Inc. now owns 1,512,840 shares of the basic materials company’s stock valued at $12,148,000 after purchasing an additional 117,298 shares during the period. Gabelli Funds LLC grew its holdings in shares of Tredegar by 1.9% during the 1st quarter. Gabelli Funds LLC now owns 1,237,000 shares of the basic materials company’s stock worth $9,834,000 after purchasing an additional 23,000 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Tredegar by 4.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,127,926 shares of the basic materials company’s stock worth $8,966,000 after purchasing an additional 51,438 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

About Tredegar

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.