Stifel Financial Corp Sells 7,313 Shares of Tredegar Corporation (TG)
Stifel Financial Corp decreased its holdings in Tredegar Corporation (NYSE:TG) by 26.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,044 shares of the basic materials company’s stock after selling 7,313 shares during the period. Stifel Financial Corp owned about 0.06% of Tredegar Corporation worth $306,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of TG. Gamco Investors INC. ET AL raised its stake in Tredegar Corporation by 6.3% in the second quarter. Gamco Investors INC. ET AL now owns 4,851,213 shares of the basic materials company’s stock worth $73,981,000 after buying an additional 286,897 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Tredegar Corporation by 7.3% during the second quarter. Vanguard Group Inc. now owns 2,622,458 shares of the basic materials company’s stock worth $39,992,000 after purchasing an additional 177,637 shares in the last quarter. Teton Advisors Inc. increased its position in shares of Tredegar Corporation by 32.8% during the second quarter. Teton Advisors Inc. now owns 507,600 shares of the basic materials company’s stock worth $7,741,000 after purchasing an additional 125,340 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Tredegar Corporation by 292.8% during the second quarter. JPMorgan Chase & Co. now owns 64,683 shares of the basic materials company’s stock worth $986,000 after purchasing an additional 48,216 shares in the last quarter. Finally, IndexIQ Advisors LLC acquired a new position in shares of Tredegar Corporation during the second quarter worth $411,000. 62.67% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on TG. BidaskClub raised Tredegar Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 5th. TheStreet raised Tredegar Corporation from a “c+” rating to a “b-” rating in a research report on Friday, August 25th.
In other news, major shareholder Gamco Investors, Inc. Et Al sold 1,500 shares of Tredegar Corporation stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $18.25, for a total transaction of $27,375.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 12.59% of the company’s stock.
Tredegar Corporation (NYSE TG) opened at $18.95 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.88 and a quick ratio of 1.30. The stock has a market capitalization of $634.12, a PE ratio of 23.70 and a beta of 1.74.
Tredegar Corporation (NYSE:TG) last announced its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.28 EPS for the quarter. Tredegar Corporation had a return on equity of 7.96% and a net margin of 6.06%. The firm had revenue of $247.16 million for the quarter.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 15th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Thursday, December 14th. Tredegar Corporation’s payout ratio is 25.14%.
Tredegar Corporation Company Profile
Tredegar Corporation is engaged in the manufacture of polyethylene plastic films, polyester films and aluminum extrusions. The Company’s segments are PE Films, Flexible Packaging Films and Aluminum Extrusions. The PE Films segment manufactures plastic films, elastics and laminate materials utilized in personal care materials, surface protection films and specialty and optical lighting applications.
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