Entropy Technologies LP Purchases New Stake in TEGNA Inc. (NYSE:TGNA)

Entropy Technologies LP bought a new position in TEGNA Inc. (NYSE:TGNA) during the 1st quarter, Holdings Channel reports. The fund bought 25,793 shares of the company’s stock, valued at approximately $385,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in TEGNA by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 25,326,932 shares of the company’s stock valued at $387,502,000 after acquiring an additional 744,721 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in TEGNA by 17.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,294,455 shares of the company’s stock worth $157,506,000 after purchasing an additional 1,501,986 shares during the period. LSV Asset Management grew its stake in TEGNA by 13.7% in the first quarter. LSV Asset Management now owns 6,197,091 shares of the company’s stock worth $92,585,000 after purchasing an additional 747,520 shares during the period. Norges Bank purchased a new position in TEGNA during the fourth quarter valued at $38,009,000. Finally, Goldman Sachs Group Inc. grew its position in shares of TEGNA by 26.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,330,866 shares of the company’s stock worth $35,662,000 after buying an additional 484,658 shares during the period. 92.19% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Clifton A. Mcclelland III sold 54,093 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.78, for a total transaction of $853,587.54. Following the transaction, the senior vice president now owns 42,602 shares in the company, valued at $672,259.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Clifton A. Mcclelland III sold 54,093 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.78, for a total transaction of $853,587.54. Following the completion of the sale, the senior vice president now owns 42,602 shares in the company, valued at $672,259.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $13.99, for a total value of $349,750.00. Following the completion of the transaction, the chief operating officer now directly owns 190,474 shares in the company, valued at $2,664,731.26. The disclosure for this sale can be found here. Insiders have sold a total of 210,343 shares of company stock valued at $3,072,994 in the last 90 days. 0.88% of the stock is currently owned by insiders.

TEGNA Stock Down 1.5 %

Shares of TGNA stock traded down $0.24 during trading hours on Friday, hitting $15.51. 82,633 shares of the company’s stock traded hands, compared to its average volume of 2,153,262. The stock’s fifty day simple moving average is $14.28 and its two-hundred day simple moving average is $14.49. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $17.37. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 1.10. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 5.44 and a beta of 0.51.

TEGNA (NYSE:TGNA) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. TEGNA had a return on equity of 11.86% and a net margin of 19.48%. The firm had revenue of $714.30 million during the quarter, compared to analysts’ expectations of $718.86 million. During the same quarter in the previous year, the business earned $0.47 earnings per share. The company’s revenue was down 3.5% on a year-over-year basis. On average, analysts expect that TEGNA Inc. will post 3.11 EPS for the current year.

TEGNA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were paid a dividend of $0.125 per share. The ex-dividend date was Friday, June 7th. This represents a $0.50 annualized dividend and a yield of 3.22%. This is a boost from TEGNA’s previous quarterly dividend of $0.11. TEGNA’s dividend payout ratio is currently 17.48%.

TEGNA Profile

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.