OppenheimerFunds Inc. decreased its position in Tredegar Co. (NYSE:TG) by 14.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,241 shares of the basic materials company’s stock after selling 5,460 shares during the quarter. OppenheimerFunds Inc. owned 0.09% of Tredegar worth $600,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in shares of Tredegar by 4.5% in the fourth quarter. BlackRock Inc. now owns 3,317,361 shares of the basic materials company’s stock valued at $63,694,000 after acquiring an additional 142,560 shares during the last quarter. State Street Corp increased its position in shares of Tredegar by 2.4% in the second quarter. State Street Corp now owns 593,069 shares of the basic materials company’s stock valued at $9,041,000 after acquiring an additional 14,011 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Tredegar by 13.6% in the fourth quarter. Bank of New York Mellon Corp now owns 443,456 shares of the basic materials company’s stock valued at $8,514,000 after acquiring an additional 53,257 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Tredegar by 13.2% in the third quarter. Ameriprise Financial Inc. now owns 166,051 shares of the basic materials company’s stock valued at $2,990,000 after acquiring an additional 19,418 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Tredegar by 7.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 116,269 shares of the basic materials company’s stock valued at $2,233,000 after acquiring an additional 8,467 shares during the last quarter. 63.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TG stock opened at $18.30 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 1.88 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $602.52, a PE ratio of 15.78 and a beta of 1.65. Tredegar Co. has a 12-month low of $14.65 and a 12-month high of $20.65.
Tredegar (NYSE:TG) last released its earnings results on Wednesday, February 21st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter. The business had revenue of $245.84 million for the quarter. Tredegar had a return on equity of 8.62% and a net margin of 3.84%. During the same period in the prior year, the firm posted $0.10 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 16th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Thursday, March 15th. Tredegar’s payout ratio is currently 37.93%.
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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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