Tredegar (NYSE:TG) Issues Quarterly Earnings Results

Tredegar (NYSE:TG) posted its quarterly earnings data on Wednesday. The basic materials company reported $0.32 earnings per share for the quarter, FiscalAI reports. Tredegar had a net margin of 4.62% and a return on equity of 12.74%. The firm had revenue of $184.07 million during the quarter.

Tredegar Price Performance

Shares of TG traded up $0.09 during mid-day trading on Friday, hitting $7.83. 7,237 shares of the company’s stock were exchanged, compared to its average volume of 163,754. Tredegar has a 52 week low of $6.25 and a 52 week high of $9.66. The company has a market cap of $273.31 million, a PE ratio of 8.24 and a beta of 0.63. The company has a 50-day simple moving average of $8.53 and a 200 day simple moving average of $7.97.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TG. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tredegar in a research report on Wednesday, January 21st. Wall Street Zen raised Tredegar from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Tredegar currently has an average rating of “Sell”.

Insider Activity at Tredegar

In other Tredegar news, major shareholder William M. Gottwald sold 54,269 shares of Tredegar stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $8.70, for a total value of $472,140.30. Following the sale, the insider directly owned 665,815 shares in the company, valued at approximately $5,792,590.50. The trade was a 7.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder James T. Gottwald sold 28,787 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $8.99, for a total transaction of $258,795.13. Following the transaction, the insider owned 541,446 shares of the company’s stock, valued at approximately $4,867,599.54. This represents a 5.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 390,991 shares of company stock valued at $3,451,532. Corporate insiders own 5.95% of the company’s stock.

Institutional Trading of Tredegar

A number of hedge funds have recently made changes to their positions in TG. Gamco Investors INC. ET AL boosted its position in Tredegar by 5.2% during the fourth quarter. Gamco Investors INC. ET AL now owns 6,302,684 shares of the basic materials company’s stock worth $45,253,000 after purchasing an additional 311,833 shares during the period. Vanguard Group Inc. grew its stake in Tredegar by 8.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,512,840 shares of the basic materials company’s stock valued at $12,148,000 after buying an additional 117,298 shares during the last quarter. Gabelli Funds LLC grew its stake in Tredegar by 3.9% in the 4th quarter. Gabelli Funds LLC now owns 1,214,000 shares of the basic materials company’s stock valued at $8,717,000 after buying an additional 45,452 shares during the last quarter. Geode Capital Management LLC raised its holdings in Tredegar by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 642,115 shares of the basic materials company’s stock valued at $4,611,000 after acquiring an additional 21,320 shares during the period. Finally, State Street Corp boosted its holdings in shares of Tredegar by 1.9% during the fourth quarter. State Street Corp now owns 610,289 shares of the basic materials company’s stock worth $4,382,000 after acquiring an additional 11,205 shares during the period. 79.24% of the stock is owned by institutional investors and hedge funds.

Tredegar Company Profile

Tredegar Corporation is a diversified manufacturer specializing in high-performance plastic films and aluminum extrusions. Headquartered in Richmond, Virginia, the company operates through two primary segments—Films and Manufactured Products—serving a broad range of industries that include flexible packaging, medical devices, electronics, building and construction. Tredegar’s operations focus on delivering tailored solutions that meet demanding specifications for barrier properties, film strength and extrusion tolerances.

The Films segment produces a variety of polyolefin films, including cast and blown polyethylene, BOPP (biaxially oriented polypropylene), barrier films and specialty medical-grade films.