Tredegar (NYSE:TG) Announces Earnings Results

Tredegar (NYSE:TG) released its quarterly earnings results on Friday. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $216.24 million during the quarter. Tredegar had a return on equity of 12.91% and a net margin of 3.89%.During the same period in the prior year, the firm earned $0.05 earnings per share.

Tredegar Price Performance

Shares of NYSE TG traded up $1.05 during midday trading on Friday, hitting $8.80. The stock had a trading volume of 529,716 shares, compared to its average volume of 130,464. The company’s 50-day simple moving average is $7.75 and its 200 day simple moving average is $8.29. Tredegar has a fifty-two week low of $6.25 and a fifty-two week high of $10.53. The firm has a market cap of $308.25 million, a P/E ratio of 10.48 and a beta of 0.76.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Tredegar from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Tredegar has an average rating of “Hold”.

Insider Activity at Tredegar

In other Tredegar news, major shareholder James T. Gottwald sold 15,808 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $8.04, for a total value of $127,096.32. Following the sale, the insider directly owned 435,065 shares in the company, valued at approximately $3,497,922.60. This trade represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder John D. Gottwald sold 20,146 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $8.16, for a total transaction of $164,391.36. Following the completion of the sale, the insider owned 408,767 shares of the company’s stock, valued at approximately $3,335,538.72. This represents a 4.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 153,338 shares of company stock worth $1,236,609 in the last ninety days. Company insiders own 2.50% of the company’s stock.

Institutional Trading of Tredegar

A number of large investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in shares of Tredegar by 31.4% in the first quarter. AQR Capital Management LLC now owns 17,158 shares of the basic materials company’s stock valued at $132,000 after buying an additional 4,097 shares during the period. Jane Street Group LLC acquired a new position in Tredegar in the 1st quarter worth $144,000. Geode Capital Management LLC boosted its stake in Tredegar by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 589,275 shares of the basic materials company’s stock worth $5,187,000 after purchasing an additional 1,506 shares during the period. Rhumbline Advisers increased its holdings in Tredegar by 4.8% during the 2nd quarter. Rhumbline Advisers now owns 44,096 shares of the basic materials company’s stock worth $388,000 after purchasing an additional 2,021 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Tredegar by 225.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,889 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 4,771 shares in the last quarter. 79.24% of the stock is owned by institutional investors.

About Tredegar

Tredegar Corporation is a diversified manufacturer specializing in high-performance plastic films and aluminum extrusions. Headquartered in Richmond, Virginia, the company operates through two primary segments—Films and Manufactured Products—serving a broad range of industries that include flexible packaging, medical devices, electronics, building and construction. Tredegar’s operations focus on delivering tailored solutions that meet demanding specifications for barrier properties, film strength and extrusion tolerances.

The Films segment produces a variety of polyolefin films, including cast and blown polyethylene, BOPP (biaxially oriented polypropylene), barrier films and specialty medical-grade films.