Posted by admin on Aug 14th, 2022
Brown Advisory Inc. purchased a new position in Tredegar Co. (NYSE:TG – Get Rating) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 27,944 shares of the basic materials company’s stock, valued at approximately $335,000. Brown Advisory Inc. owned 0.08% of Tredegar at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in shares of Tredegar during the 4th quarter valued at approximately $295,000. Yousif Capital Management LLC bought a new position in shares of Tredegar in the fourth quarter worth approximately $281,000. KBC Group NV increased its stake in shares of Tredegar by 90.1% in the fourth quarter. KBC Group NV now owns 15,492 shares of the basic materials company’s stock worth $183,000 after purchasing an additional 7,343 shares in the last quarter. Royce & Associates LP raised its position in shares of Tredegar by 97.0% during the 4th quarter. Royce & Associates LP now owns 90,373 shares of the basic materials company’s stock valued at $1,068,000 after purchasing an additional 44,493 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Tredegar by 0.8% during the 4th quarter. Northern Trust Corp now owns 301,843 shares of the basic materials company’s stock valued at $3,568,000 after buying an additional 2,527 shares in the last quarter. Hedge funds and other institutional investors own 61.58% of the company’s stock.
Separately, StockNews.com lowered Tredegar from a “strong-buy” rating to a “buy” rating in a research note on Saturday.
NYSE:TG opened at $11.51 on Friday. The stock has a 50-day moving average price of $10.60 and a 200 day moving average price of $11.40. The company has a current ratio of 1.35, a quick ratio of 1.00 and a debt-to-equity ratio of 0.48. Tredegar Co. has a 12-month low of $9.69 and a 12-month high of $13.47. The stock has a market capitalization of $391.11 million, a P/E ratio of 6.58 and a beta of 0.95.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 16th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.52 annualized dividend and a dividend yield of 4.52%. This is a boost from Tredegar’s previous quarterly dividend of $0.12. Tredegar’s dividend payout ratio (DPR) is presently 27.43%.
Tredegar Corporation, through its subsidiaries, manufactures and sells aluminum extrusions, polyethylene (PE) films, and polyester films in the United States and internationally. It operates through three segments: Aluminum Extrusions, PE Films, and Flexible Packaging Films. The Aluminum Extrusions segment produces soft-alloy and medium-strength custom fabricated and finished aluminum extrusions for the building and construction, automotive and transportation, consumer durables, machinery and equipment, electrical and renewable energy, and distribution markets; and manufactures mill, anodized, and painted and fabricated aluminum extrusions to fabricators and distributors.
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