Tredegar (NYSE:TG) Issues Earnings Results

Tredegar (NYSE:TG) released its quarterly earnings data on Friday. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, FiscalAI reports. Tredegar had a return on equity of 14.52% and a net margin of 4.26%. The company had revenue of $207.17 million for the quarter. During the same period last year, the company posted $0.20 EPS.

Tredegar Stock Performance

TG stock traded down $1.62 during midday trading on Friday, reaching $5.42. 830,861 shares of the company’s stock traded hands, compared to its average volume of 239,050. The company has a 50-day moving average price of $7.30 and a two-hundred day moving average price of $8.02. Tredegar has a 52 week low of $5.36 and a 52 week high of $10.53. The firm has a market capitalization of $189.37 million, a PE ratio of 5.65 and a beta of 0.76.

Insider Transactions at Tredegar

In related news, major shareholder William M. Gottwald sold 33,334 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $8.03, for a total transaction of $267,672.02. Following the completion of the transaction, the insider directly owned 292,286 shares in the company, valued at $2,347,056.58. The trade was a 10.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder John D. Gottwald sold 33,333 shares of the stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $8.03, for a total value of $267,663.99. Following the transaction, the insider owned 292,287 shares in the company, valued at $2,347,064.61. This trade represents a 10.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 193,293 shares of company stock valued at $1,553,386. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tredegar

Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in shares of Tredegar by 104.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 32,686 shares of the basic materials company’s stock valued at $225,000 after purchasing an additional 16,719 shares during the last quarter. Ritholtz Wealth Management boosted its position in Tredegar by 110.5% during the third quarter. Ritholtz Wealth Management now owns 79,297 shares of the basic materials company’s stock valued at $546,000 after purchasing an additional 41,628 shares in the last quarter. Corient Private Wealth LP bought a new stake in shares of Tredegar in the 2nd quarter valued at about $82,000. Susquehanna International Group LLP boosted its stake in Tredegar by 116.2% in the second quarter. Susquehanna International Group LLP now owns 36,581 shares of the basic materials company’s stock valued at $291,000 after acquiring an additional 19,664 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake 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 last quarter. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Tredegar from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, Tredegar currently has an average rating of “Hold”.

Tredegar Company Profile

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.