GSA Capital Partners LLP Acquires New Holdings in Tredegar Co. (TG)
GSA Capital Partners LLP acquired a new position in Tredegar Co. (NYSE:TG) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 10,652 shares of the basic materials company’s stock, valued at approximately $169,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Matarin Capital Management LLC bought a new position in Tredegar in the 3rd quarter valued at about $4,480,000. BlackRock Inc. boosted its position in shares of Tredegar by 5.3% during the 3rd quarter. BlackRock Inc. now owns 3,758,110 shares of the basic materials company’s stock valued at $81,363,000 after purchasing an additional 190,552 shares in the last quarter. Martingale Asset Management L P boosted its position in shares of Tredegar by 91.3% during the 3rd quarter. Martingale Asset Management L P now owns 99,954 shares of the basic materials company’s stock valued at $2,165,000 after purchasing an additional 47,707 shares in the last quarter. Vanguard Group Inc boosted its position in shares of Tredegar by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 2,973,256 shares of the basic materials company’s stock valued at $64,371,000 after purchasing an additional 46,020 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Tredegar by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,973,256 shares of the basic materials company’s stock valued at $64,371,000 after purchasing an additional 46,020 shares in the last quarter. 67.46% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have commented on the stock. TheStreet upgraded shares of Tredegar from a “c-” rating to a “b-” rating in a report on Friday. ValuEngine upgraded shares of Tredegar from a “sell” rating to a “hold” rating in a report on Saturday, February 2nd.
Tredegar (NYSE:TG) last announced its earnings results on Monday, March 18th. The basic materials company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.28 by $0.15. Tredegar had a net margin of 2.34% and a return on equity of 13.34%. The company had revenue of $275.71 million during the quarter.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, March 14th.
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Tredegar Corporation, through its subsidiaries, manufactures and sells polyethylene (PE) plastic films, polyester films, and aluminum extrusions worldwide. It operates through PE Films, Flexible Packaging Films, and Aluminum Extrusions segments. The PE Films segment offers personal care materials, such as apertured films and laminate materials for use in feminine hygiene products, baby diapers, and adult incontinence products under the ComfortAire, ComfortFeel, and FreshFeel brands; elastic materials for use as components for baby diapers, adult incontinence products, and feminine hygiene products under the ExtraFlex and FlexAire brands; and three-dimensional apertured film transfer layers for baby diapers and adult incontinence products under the AquiDry and AquiDry Plus brands.
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