Tredegar (NYSE:TG) Releases Quarterly Earnings Results

Tredegar (NYSE:TG) announced its quarterly earnings data on Friday. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, Zacks reports. The company had revenue of $194.94 million for the quarter. Tredegar had a negative net margin of 9.51% and a positive return on equity of 4.17%.

Tredegar Trading Up 9.2%

Shares of NYSE:TG traded up $0.58 during trading on Friday, hitting $6.87. 115,102 shares of the stock were exchanged, compared to its average volume of 93,003. The company has a market cap of $239.75 million, a PE ratio of -3.64 and a beta of 0.78. The company has a fifty day moving average price of $7.58 and a two-hundred day moving average price of $8.10. Tredegar has a 12-month low of $6.25 and a 12-month high of $9.43.

Insiders Place Their Bets

In other news, major shareholder John D. Gottwald sold 16,086 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $8.01, for a total value of $128,848.86. Following the completion of the transaction, the insider directly owned 759,811 shares of the company’s stock, valued at $6,086,086.11. The trade was a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder William M. Gottwald sold 16,087 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $8.01, for a total transaction of $128,856.87. Following the completion of the transaction, the insider owned 759,810 shares in the company, valued at approximately $6,086,078.10. This trade represents a 2.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 46,187 shares of company stock valued at $370,456. Company insiders own 5.95% of the company’s stock.

Institutional Trading of Tredegar

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Tredegar by 8.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,512,840 shares of the basic materials company’s stock worth $12,148,000 after buying an additional 117,298 shares in the last quarter. Jane Street Group LLC purchased a new position in Tredegar in the first quarter valued at about $144,000. Osaic Holdings Inc. grew its stake in Tredegar by 130.0% during 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 in the last quarter. 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 during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Tredegar by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 83,787 shares of the basic materials company’s stock worth $673,000 after purchasing an additional 4,288 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Tredegar in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Tredegar Company Profile

Tredegar Corporation manufactures and sells aluminum extrusions, polyethylene (PE) films, and plastic and polyester films in the United States and internationally. It operates through three segments: Aluminum Extrusions, PE Films, and Flexible Packaging Films. The Aluminum Extrusions segment produces soft and medium strength alloyed aluminum extrusions, custom fabricated and finished aluminum extrusions for the building and construction, automotive and transportation, consumer durables, machinery and equipment, electrical and renewable energy, and distribution markets; and manufactures mill, anodized, and painted and alloyed aluminum extrusions to fabricators and distributors.