Tredegar Corporation $TG Stock Holdings Lifted by Ritholtz Wealth Management

Ritholtz Wealth Management raised its position in Tredegar Corporation (NYSE:TG) by 112.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,411 shares of the basic materials company’s stock after purchasing an additional 44,224 shares during the quarter. Ritholtz Wealth Management’s holdings in Tredegar were worth $734,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TG. Nuveen LLC purchased a new position in Tredegar in the first quarter valued at about $1,854,000. Gamco Investors INC. ET AL grew its stake in Tredegar by 2.9% in the first quarter. Gamco Investors INC. ET AL now owns 5,785,780 shares of the basic materials company’s stock valued at $44,551,000 after purchasing an additional 161,971 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in 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 valued at $1,678,000 after purchasing an additional 142,822 shares in the last quarter. American Century Companies Inc. grew its stake in Tredegar by 23.6% in the first quarter. American Century Companies Inc. now owns 622,012 shares of the basic materials company’s stock valued at $4,789,000 after purchasing an additional 118,946 shares in the last quarter. Finally, Strs Ohio purchased a new position in Tredegar in the first quarter valued at about $509,000. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder William M. Gottwald sold 16,087 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $8.01, for a total value of $128,856.87. Following the completion of the transaction, the insider directly owned 759,810 shares of the company’s stock, valued at approximately $6,086,078.10. This represents a 2.07% decrease in their position. The sale 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 stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $8.01, for a total value 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. The trade was a 2.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,485 shares of company stock valued at $577,626 in the last quarter. Corporate insiders own 5.95% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Tredegar in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Tredegar Stock Performance

TG opened at $7.31 on Friday. The company has a market cap of $255.07 million, a PE ratio of -3.87 and a beta of 0.78. The stock has a 50-day moving average of $7.77 and a 200-day moving average of $8.11. Tredegar Corporation has a 52-week low of $6.45 and a 52-week high of $9.43.

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

About Tredegar

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.