Tredegar (NYSE:TG) Releases Earnings Results

Tredegar (NYSE:TG) issued its quarterly earnings results on Friday. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, Zacks reports. The company had revenue of $194.94 million during the quarter. Tredegar had a negative net margin of 9.51% and a positive return on equity of 4.17%.

Tredegar Trading Up 9.2%

Shares of TG stock traded up $0.58 during trading on Friday, reaching $6.87. 115,102 shares of the company’s stock traded hands, compared to its average volume of 93,003. The firm’s 50-day moving average is $7.58 and its 200 day moving average is $8.10. The company has a market capitalization of $239.75 million, a P/E ratio of -3.64 and a beta of 0.78. Tredegar has a 1 year low of $6.25 and a 1 year high of $9.43.

Insiders Place Their Bets

In other news, major shareholder William M. Gottwald sold 16,087 shares of Tredegar stock in a transaction 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 in the company, valued at approximately $6,086,078.10. The trade was a 2.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder John D. Gottwald sold 16,086 shares of the stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $8.01, for a total value of $128,848.86. Following the sale, the insider directly owned 759,811 shares in the company, valued at $6,086,086.11. This trade represents a 2.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 46,187 shares of company stock worth $370,456 in the last three months. Insiders own 5.95% of the company’s stock.

Hedge Funds Weigh In On Tredegar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TG. Tower Research Capital LLC TRC boosted its stake in shares of Tredegar by 225.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,889 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 4,771 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Tredegar by 130.0% in the second quarter. Osaic Holdings Inc. now owns 13,988 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 7,907 shares during the last quarter. AQR Capital Management LLC lifted its stake in Tredegar by 31.4% in the first quarter. AQR Capital Management LLC now owns 17,158 shares of the basic materials company’s stock worth $132,000 after purchasing an additional 4,097 shares during the last quarter. Jane Street Group LLC purchased a new stake in Tredegar during the first quarter valued at about $144,000. Finally, Rhumbline Advisers grew its stake in shares of Tredegar by 4.8% during 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 last quarter. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tredegar in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

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.