Posted by admin on Aug 13th, 2022
SG Americas Securities LLC decreased its stake in shares of Tredegar Co. (NYSE:TG – Get Rating) by 54.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 11,622 shares of the basic materials company’s stock after selling 13,672 shares during the period. SG Americas Securities LLC’s holdings in Tredegar were worth $139,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Gamco Investors INC. ET AL grew its holdings in Tredegar by 1.8% during the fourth quarter. Gamco Investors INC. ET AL now owns 3,018,805 shares of the basic materials company’s stock valued at $35,682,000 after purchasing an additional 53,072 shares during the last quarter. Gabelli Funds LLC grew its stake in Tredegar by 4.6% in the 4th quarter. Gabelli Funds LLC now owns 430,000 shares of the basic materials company’s stock valued at $5,083,000 after buying an additional 19,000 shares during the last quarter. Northern Trust Corp raised its holdings in Tredegar by 0.8% in the 4th quarter. Northern Trust Corp now owns 301,843 shares of the basic materials company’s stock worth $3,568,000 after acquiring an additional 2,527 shares during the period. Euclidean Technologies Management LLC lifted its position in Tredegar by 19.3% during the 4th quarter. Euclidean Technologies Management LLC now owns 185,749 shares of the basic materials company’s stock worth $2,196,000 after acquiring an additional 30,000 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new stake in Tredegar during the first quarter valued at about $1,727,000. Institutional investors and hedge funds own 61.58% of the company’s stock.
NYSE:TG opened at $11.51 on Friday. The firm’s 50-day moving average is $10.60 and its 200-day moving average is $11.40. The company has a market cap of $391.13 million, a price-to-earnings ratio of 6.58 and a beta of 0.95. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 1.35. Tredegar Co. has a 52-week low of $9.69 and a 52-week high of $13.47.
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 16th will be given a $0.13 dividend. This is a boost from Tredegar’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Thursday, September 15th. Tredegar’s dividend payout ratio (DPR) is 27.43%.
Separately, StockNews.com downgraded Tredegar from a “strong-buy” rating to a “buy” rating in a research report on Saturday.
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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