IndexIQ Advisors LLC Sells 9,560 Shares of Tredegar Co. (TG)
IndexIQ Advisors LLC cut its holdings in shares of Tredegar Co. (NYSE:TG) by 7.5% during the fourth quarter, Holdings Channel reports. The fund owned 117,083 shares of the basic materials company’s stock after selling 9,560 shares during the period. IndexIQ Advisors LLC’s holdings in Tredegar were worth $1,857,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of TG. Rhumbline Advisers increased its holdings in Tredegar by 19.5% in the fourth quarter. Rhumbline Advisers now owns 77,904 shares of the basic materials company’s stock worth $1,236,000 after buying an additional 12,698 shares during the last quarter. Arizona State Retirement System boosted its position in Tredegar by 6.1% during the fourth quarter. Arizona State Retirement System now owns 39,340 shares of the basic materials company’s stock worth $624,000 after purchasing an additional 2,258 shares during the period. Assenagon Asset Management S.A. bought a new stake in Tredegar during the fourth quarter worth approximately $524,000. Strs Ohio boosted its position in Tredegar by 14.6% during the fourth quarter. Strs Ohio now owns 40,000 shares of the basic materials company’s stock worth $634,000 after purchasing an additional 5,100 shares during the period. Finally, Vanguard Group Inc boosted its position in Tredegar by 1.6% during the third quarter. Vanguard Group Inc now owns 2,973,256 shares of the basic materials company’s stock worth $64,371,000 after purchasing an additional 46,020 shares during the period. Hedge funds and other institutional investors own 64.96% of the company’s stock.
TG opened at $16.24 on Monday. Tredegar Co. has a 1-year low of $14.85 and a 1-year high of $26.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.55 and a quick ratio of 1.02. The company has a market capitalization of $538.78 million, a PE ratio of 13.53 and a beta of 0.98.
TG has been the subject of a number of recent analyst reports. ValuEngine cut Tredegar from a “hold” rating to a “sell” rating in a research report on Saturday, November 10th. TheStreet cut Tredegar from a “b-” rating to a “c-” rating in a research report on Thursday, November 15th.
In other Tredegar news, VP Michael Jay Schewel acquired 5,000 shares of Tredegar stock in a transaction dated Tuesday, November 13th. The stock was bought at an average cost of $15.95 per share, with a total value of $79,750.00. Following the completion of the transaction, the vice president now owns 21,933 shares of the company’s stock, valued at $349,831.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.62% of the stock is currently owned by corporate insiders.
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Tredegar Company 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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