HB Wealth Management LLC Makes New $720,000 Investment in Tredegar Corporation $TG

HB Wealth Management LLC purchased a new stake in Tredegar Corporation (NYSE:TG) in the third quarter, HoldingsChannel reports. The firm purchased 89,691 shares of the basic materials company’s stock, valued at approximately $720,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Merit Financial Group LLC purchased a new stake in shares of Tredegar in the 3rd quarter worth about $155,000. Osaic Holdings Inc. raised its position in Tredegar by 130.0% during the second quarter. Osaic Holdings Inc. now owns 13,988 shares of the basic materials company’s stock worth $123,000 after acquiring an additional 7,907 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Tredegar by 225.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,889 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 4,771 shares in the last quarter. Gate City Capital Management LLC grew its position in shares of Tredegar by 113.5% in the second quarter. Gate City Capital Management LLC now owns 260,088 shares of the basic materials company’s stock valued at $2,289,000 after purchasing an additional 138,278 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Tredegar by 19.9% during the 2nd quarter. Jane Street Group LLC now owns 22,462 shares of the basic materials company’s stock worth $198,000 after purchasing an additional 3,722 shares in the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

Wall Street Analyst Weigh In

TG has been the topic of a number of recent research reports. Wall Street Zen raised Tredegar from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Tredegar in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Tredegar Stock Performance

Shares of TG opened at $7.59 on Wednesday. Tredegar Corporation has a fifty-two week low of $6.25 and a fifty-two week high of $9.43. The company has a market capitalization of $265.07 million, a PE ratio of -4.81 and a beta of 0.67. The stock has a fifty day moving average of $7.64 and a two-hundred day moving average of $7.89.

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

Insider Buying and Selling at Tredegar

In related news, major shareholder James T. Gottwald sold 9,997 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $8.52, for a total value of $85,174.44. Following the sale, the insider directly owned 744,949 shares of the company’s stock, valued at approximately $6,346,965.48. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder William M. Gottwald sold 10,944 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was 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 of the company’s stock, valued at $6,268,394.16. This trade represents a 1.47% decrease in their position. 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 owned by company insiders.

Tredegar Company Profile

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.