HB Wealth Management LLC Invests $720,000 in Tredegar Corporation $TG

HB Wealth Management LLC bought a new stake in Tredegar Corporation (NYSE:TG) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 89,691 shares of the basic materials company’s stock, valued at approximately $720,000. HB Wealth Management LLC owned 0.26% of Tredegar at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in Tredegar by 0.3% during 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 last quarter. Rhumbline Advisers grew its holdings in shares of Tredegar by 4.8% during the second quarter. Rhumbline Advisers now owns 44,096 shares of the basic materials company’s stock worth $388,000 after buying an additional 2,021 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Tredegar by 19.9% during the second quarter. Jane Street Group LLC now owns 22,462 shares of the basic materials company’s stock worth $198,000 after buying an additional 3,722 shares during the last quarter. AQR Capital Management LLC increased its position 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 acquiring an additional 4,097 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake 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 valued at $61,000 after acquiring an additional 4,771 shares during the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

Insider Activity

In other Tredegar news, major shareholder William M. Gottwald sold 10,944 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $8.54, for a total transaction of $93,461.76. Following the transaction, the insider directly owned 734,004 shares in the company, valued at approximately $6,268,394.16. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder James T. Gottwald sold 9,997 shares of Tredegar stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $8.52, for a total transaction of $85,174.44. Following the sale, the insider owned 744,949 shares of the company’s stock, valued at approximately $6,346,965.48. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 46,781 shares of company stock worth $398,914 in the last 90 days. 5.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TG. Wall Street Zen upgraded Tredegar from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tredegar in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Tredegar Price Performance

TG opened at $7.59 on Wednesday. Tredegar Corporation has a 12 month low of $6.25 and a 12 month high of $9.43. The stock has a market capitalization of $265.07 million, a P/E ratio of -4.81 and a beta of 0.67. The business has a 50 day simple moving average of $7.64 and a 200-day simple moving average of $7.89.

Tredegar (NYSE:TG) last released its quarterly earnings data on Friday, November 7th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter. Tredegar had a positive return on equity of 8.64% and a negative net margin of 7.75%.The firm had revenue of $194.94 million during the quarter.

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.