Tredegar (NYSE:TG) Announces Quarterly Earnings Results

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

Tredegar Stock Performance

NYSE TG traded down $1.62 during trading on Friday, hitting $5.42. The stock had a trading volume of 830,861 shares, compared to its average volume of 239,050. Tredegar has a 12 month low of $5.36 and a 12 month high of $10.53. The company has a market capitalization of $189.37 million, a PE ratio of 5.65 and a beta of 0.76. The company’s 50-day moving average price is $7.30 and its two-hundred day moving average price is $8.02.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Tredegar from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. One analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Insider Activity at Tredegar

In other Tredegar news, major shareholder James T. Gottwald sold 7,719 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $8.02, for a total transaction of $61,906.38. Following the transaction, the insider owned 369,710 shares of the company’s stock, valued at $2,965,074.20. The trade was a 2.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder John D. Gottwald sold 35,507 shares of the company’s stock in a transaction on Friday, October 16th. The stock was sold at an average price of $8.00, for a total transaction of $284,056.00. Following the sale, the insider directly owned 325,620 shares in the company, valued at $2,604,960. This trade represents a 9.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 193,293 shares of company stock valued at $1,553,386. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of Tredegar

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Tredegar in the second quarter valued at about $19,151,000. Bank of New York Mellon Corp bought a new position in Tredegar in the 2nd quarter valued at about $903,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Tredegar in the 2nd quarter valued at approximately $783,000. Empowered Funds LLC acquired a new position in shares of Tredegar in the 2nd quarter valued at approximately $630,000. Finally, Bank of America Corp DE acquired a new position in shares of Tredegar in the 2nd quarter valued at approximately $508,000. Institutional investors own 79.24% of the company’s stock.

About Tredegar

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.