Gabelli Funds LLC Acquires 74,933 Shares of Tredegar Corporation $TG

Gabelli Funds LLC grew its holdings in shares of Tredegar Corporation (NYSE:TG) by 6.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,168,548 shares of the basic materials company’s stock after acquiring an additional 74,933 shares during the quarter. Gabelli Funds LLC owned 3.35% of Tredegar worth $9,383,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its holdings in shares of 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 valued at $61,000 after purchasing an additional 4,771 shares during the last quarter. Osaic Holdings Inc. lifted its stake in Tredegar by 130.0% in the 2nd quarter. Osaic Holdings Inc. now owns 13,988 shares of the basic materials company’s stock valued at $123,000 after purchasing an additional 7,907 shares during the last quarter. AQR Capital Management LLC lifted its stake in Tredegar by 31.4% in the 1st quarter. AQR Capital Management LLC now owns 17,158 shares of the basic materials company’s stock valued at $132,000 after purchasing an additional 4,097 shares during the last quarter. Jane Street Group LLC acquired a new stake in Tredegar in the first quarter valued at approximately $144,000. Finally, Merit Financial Group LLC acquired a new stake in Tredegar in the third quarter valued at approximately $155,000. Institutional investors own 79.24% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder John D. Gottwald sold 4,814 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $9.02, for a total value of $43,422.28. Following the completion of the sale, the insider directly owned 524,624 shares in the company, valued at $4,732,108.48. This represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder William M. Gottwald sold 4,815 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $9.02, for a total value of $43,431.30. Following the completion of the sale, the insider owned 524,623 shares of the company’s stock, valued at $4,732,099.46. The trade was a 0.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 390,991 shares of company stock valued at $3,451,532 over the last 90 days. 5.80% of the stock is owned by insiders.

Tredegar Stock Performance

Shares of NYSE TG opened at $8.83 on Monday. Tredegar Corporation has a 52-week low of $6.25 and a 52-week high of $9.66. The firm has a 50 day moving average price of $8.47 and a two-hundred day moving average price of $7.96. The stock has a market cap of $308.26 million, a P/E ratio of -5.59 and a beta of 0.63.

Analyst Ratings Changes

Several brokerages have recently issued reports on TG. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tredegar in a report on Wednesday, January 21st. Wall Street Zen raised Tredegar from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

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.