Tredegar (NYSE:TG) Releases Quarterly Earnings Results

Tredegar (NYSE:TG) posted its quarterly earnings results on Friday. The basic materials company reported $0.26 EPS for the quarter, Zacks reports. The business had revenue of $194.94 million during the quarter. Tredegar had a positive return on equity of 4.17% and a negative net margin of 9.51%.

Tredegar Stock Up 9.2%

TG stock traded up $0.58 during mid-day trading on Friday, reaching $6.87. The company had a trading volume of 115,102 shares, compared to its average volume of 93,003. Tredegar has a one year low of $6.25 and a one year high of $9.43. The stock has a market capitalization of $239.75 million, a P/E ratio of -3.64 and a beta of 0.78. The stock’s 50-day simple moving average is $7.58 and its two-hundred day simple moving average is $8.10.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tredegar in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Tredegar currently has an average rating of “Sell”.

Insider Transactions at Tredegar

In other Tredegar news, major shareholder William M. Gottwald sold 16,087 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $8.01, for a total value of $128,856.87. Following the sale, the insider owned 759,810 shares in the company, valued at approximately $6,086,078.10. This trade represents a 2.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder John D. Gottwald sold 16,086 shares of Tredegar stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $8.01, for a total value of $128,848.86. Following the sale, the insider directly owned 759,811 shares in the company, valued at approximately $6,086,086.11. This trade represents a 2.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 46,187 shares of company stock worth $370,456. Corporate insiders own 5.95% of the company’s stock.

Institutional Trading of Tredegar

Several hedge funds have recently added to or reduced their stakes in TG. Vanguard Group Inc. boosted its position in Tredegar by 8.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,512,840 shares of the basic materials company’s stock worth $12,148,000 after acquiring an additional 117,298 shares during the period. Geode Capital Management LLC raised its stake in shares of Tredegar by 0.3% during the second quarter. Geode Capital Management LLC now owns 589,275 shares of the basic materials company’s stock valued at $5,187,000 after purchasing an additional 1,506 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Tredegar by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 83,787 shares of the basic materials company’s stock worth $673,000 after purchasing an additional 4,288 shares during the period. Rhumbline Advisers grew its position in Tredegar by 4.8% in the 2nd quarter. Rhumbline Advisers now owns 44,096 shares of the basic materials company’s stock valued at $388,000 after buying an additional 2,021 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Tredegar by 19.9% during the 2nd quarter. Jane Street Group LLC now owns 22,462 shares of the basic materials company’s stock valued at $198,000 after buying an additional 3,722 shares during the period. Institutional investors own 79.24% of the company’s stock.

About Tredegar

Tredegar Corporation manufactures and sells aluminum extrusions, polyethylene (PE) films, and plastic 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 and medium strength alloyed aluminum extrusions, 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 alloyed aluminum extrusions to fabricators and distributors.