Stifel Financial Corp lowered its position in Tredegar Corporation (NYSE:TG) by 26.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 20,044 shares of the company’s stock after selling 7,313 shares during the period. Stifel Financial Corp owned 0.06% of Tredegar Corporation worth $306,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of TG. BNP Paribas Arbitrage SA increased its stake in Tredegar Corporation by 56.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,141 shares of the company’s stock valued at $139,000 after purchasing an additional 3,286 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Tredegar Corporation by 85.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,720 shares of the company’s stock valued at $164,000 after purchasing an additional 4,950 shares in the last quarter. Arizona State Retirement System increased its stake in Tredegar Corporation by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 13,284 shares of the company’s stock valued at $203,000 after purchasing an additional 100 shares in the last quarter. Voya Investment Management LLC increased its stake in Tredegar Corporation by 15.8% during the 2nd quarter. Voya Investment Management LLC now owns 13,867 shares of the company’s stock valued at $211,000 after purchasing an additional 1,896 shares in the last quarter. Finally, Thrivent Financial For Lutherans grew its stake in shares of Tredegar Corporation by 6.9% in the 2nd quarter. Thrivent Financial For Lutherans now owns 15,430 shares of the company’s stock worth $235,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 62.55% of the company’s stock.
TG has been the subject of several recent analyst reports. BidaskClub upgraded shares of Tredegar Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 5th. TheStreet raised shares of Tredegar Corporation from a “c+” rating to a “b-” rating in a report on Friday, August 25th.
In related news, major shareholder Gamco Investors, Inc. Et Al sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of C$18.25, for a total value of C$27,375.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders purchased 38,000 shares of company stock worth $5,700. 12.59% of the stock is owned by company insiders.
Shares of Tredegar Corporation (NYSE TG) opened at C$18.55 on Monday. Tredegar Corporation has a fifty-two week low of C$14.65 and a fifty-two week high of C$25.60. The company has a market cap of $612.65, a PE ratio of 22.90 and a beta of 1.74. The company has a current ratio of 1.88, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.
Tredegar Corporation (NYSE:TG) last announced its quarterly earnings results on Tuesday, October 31st. The company reported C$0.28 earnings per share for the quarter. Tredegar Corporation had a return on equity of 7.96% and a net margin of 6.06%. The firm had revenue of C$247.16 million for the quarter.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, December 14th. Tredegar Corporation’s dividend payout ratio (DPR) is 25.14%.
About Tredegar Corporation
Tredegar Corporation is engaged in the manufacture of polyethylene plastic films, polyester films and aluminum extrusions. The Company’s segments are PE Films, Flexible Packaging Films and Aluminum Extrusions. The PE Films segment manufactures plastic films, elastics and laminate materials utilized in personal care materials, surface protection films and specialty and optical lighting applications.
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