Tredegar (NYSE:TG – Get Free Report) issued its earnings results on Friday. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, FiscalAI reports. Tredegar had a net margin of 4.26% and a return on equity of 14.52%. The firm had revenue of $207.17 million during the quarter. During the same quarter last year, the firm posted $0.20 earnings per share.
Tredegar Trading Down 23.0%
TG opened at $5.42 on Friday. The stock’s fifty day simple moving average is $7.30 and its 200 day simple moving average is $8.02. Tredegar has a 1-year low of $5.36 and a 1-year high of $10.53. The stock has a market cap of $189.40 million, a PE ratio of 7.97 and a beta of 0.76.
Analyst Ratings Changes
Separately, Weiss Ratings upgraded Tredegar from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has an average rating of “Hold”.
View Our Latest Analysis on Tredegar
Insiders Place Their Bets
In other Tredegar news, major shareholder William M. Gottwald sold 35,506 shares of Tredegar stock in a transaction on Friday, October 16th. The shares were sold at an average price of $8.00, for a total transaction of $284,048.00. Following the completion of the transaction, the insider directly owned 325,620 shares of the company’s stock, valued at $2,604,960. The trade was a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder James T. Gottwald sold 7,719 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $8.02, for a total transaction of $61,906.38. Following the completion of the transaction, the insider owned 369,710 shares in the company, valued at approximately $2,965,074.20. This represents a 2.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 193,293 shares of company stock valued at $1,553,386 over the last ninety days. 2.50% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its holdings in Tredegar by 104.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 32,686 shares of the basic materials company’s stock worth $225,000 after purchasing an additional 16,719 shares during the last quarter. Ritholtz Wealth Management grew its holdings in Tredegar by 110.5% in the 3rd quarter. Ritholtz Wealth Management now owns 79,297 shares of the basic materials company’s stock valued at $546,000 after buying an additional 41,628 shares in the last quarter. Corient Private Wealth LP acquired a new position in Tredegar in the 2nd quarter valued at $82,000. Susquehanna International Group LLP increased its position in Tredegar by 116.2% during the 2nd quarter. Susquehanna International Group LLP now owns 36,581 shares of the basic materials company’s stock worth $291,000 after buying an additional 19,664 shares during the period. Finally, Hsbc Holdings PLC increased its position in Tredegar by 145.3% during the 2nd quarter. Hsbc Holdings PLC now owns 30,559 shares of the basic materials company’s stock worth $242,000 after buying an additional 18,103 shares during the period. Institutional investors and hedge funds own 79.24% of the company’s stock.
About Tredegar
Tredegar Corporation is a manufacturer of specialty films and aluminum extrusions. The company develops and produces polyethylene and other plastic films used in personal care, hygiene, medical, food packaging, household and industrial applications. Its flexible packaging products are designed to provide barrier, sealing and performance characteristics for packaged goods.
Through its aluminum operations, including Bonnell Aluminum, Tredegar produces extruded and fabricated aluminum components for building and construction, transportation, automotive, consumer durables and other industrial markets.
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