Arizona State Retirement System cut its stake in Tredegar Co. (NYSE:TG) by 7.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,082 shares of the basic materials company’s stock after selling 3,060 shares during the period. Arizona State Retirement System owned 0.11% of Tredegar worth $871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TG. Royal Bank of Canada raised its stake in shares of Tredegar by 8.8% during the first quarter. Royal Bank of Canada now owns 48,263 shares of the basic materials company’s stock worth $867,000 after buying an additional 3,919 shares during the last quarter. Northern Trust Corp raised its stake in shares of Tredegar by 1.1% during the first quarter. Northern Trust Corp now owns 354,648 shares of the basic materials company’s stock worth $6,367,000 after buying an additional 4,005 shares during the last quarter. Strs Ohio raised its stake in shares of Tredegar by 76.7% during the second quarter. Strs Ohio now owns 35,700 shares of the basic materials company’s stock worth $838,000 after buying an additional 15,500 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Tredegar by 2.4% during the first quarter. Principal Financial Group Inc. now owns 194,851 shares of the basic materials company’s stock worth $3,498,000 after buying an additional 4,543 shares during the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new position in Tredegar during the second quarter valued at approximately $140,000. 63.55% of the stock is owned by institutional investors.

Separately, ValuEngine cut shares of Tredegar from a “buy” rating to a “hold” rating in a report on Friday, August 3rd.

Shares of NYSE TG opened at $21.55 on Friday. The company has a market cap of $708.65 million, a P/E ratio of 17.50 and a beta of 1.27. The company has a quick ratio of 1.27, a current ratio of 1.80 and a debt-to-equity ratio of 0.33. Tredegar Co. has a 52-week low of $15.35 and a 52-week high of $26.50.

Tredegar (NYSE:TG) last issued its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter. The firm had revenue of $263.76 million during the quarter. Tredegar had a net margin of 2.29% and a return on equity of 11.09%.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Thursday, September 13th.

Tredegar Profile

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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Institutional Ownership by Quarter for Tredegar (NYSE:TG)

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