Bank of New York Mellon Corp reduced its stake in Tredegar Corporation (NYSE:TG) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 390,199 shares of the basic materials company’s stock after selling 23,664 shares during the quarter. Bank of New York Mellon Corp owned 1.18% of Tredegar worth $7,024,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of TG. Municipal Employees Retirement System of Michigan raised its holdings in shares of Tredegar by 85.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,720 shares of the basic materials company’s stock valued at $164,000 after purchasing an additional 4,950 shares during the period. Great West Life Assurance Co. Can grew its stake in Tredegar by 10.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 37,646 shares of the basic materials company’s stock valued at $572,000 after buying an additional 3,450 shares during the last quarter. Arizona State Retirement System grew its stake in Tredegar by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 13,284 shares of the basic materials company’s stock valued at $203,000 after buying an additional 100 shares during the last quarter. Legal & General Group Plc grew its stake in Tredegar by 11.3% in the 2nd quarter. Legal & General Group Plc now owns 49,045 shares of the basic materials company’s stock valued at $748,000 after buying an additional 4,969 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in Tredegar by 56.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,141 shares of the basic materials company’s stock valued at $139,000 after buying an additional 3,286 shares during the last quarter. 62.62% of the stock is currently owned by hedge funds and other institutional investors.
Tredegar Corporation (NYSE TG) opened at $19.80 on Friday. Tredegar Corporation has a 52 week low of $14.65 and a 52 week high of $24.00. The company has a market cap of $668.79, a PE ratio of 11.31 and a beta of 1.76. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.47.
Tredegar (NYSE:TG) last announced its earnings results on Tuesday, October 31st. The basic materials company reported $0.28 earnings per share (EPS) for the quarter. The firm had revenue of $247.16 million for the quarter. Tredegar had a net margin of 6.06% and a return on equity of 7.96%.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 15th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.22%. The ex-dividend date was Thursday, December 14th. Tredegar’s payout ratio is 25.14%.
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Tredegar Company Profile
Tredegar Corporation is engaged in the manufacture of polyethylene plastic films, polyester films and aluminum extrusions. The Company’s segments are PE Films, Flexible Packaging Films and Aluminum Extrusions. The PE Films segment manufactures plastic films, elastics and laminate materials utilized in personal care materials, surface protection films and specialty and optical lighting applications.
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