Gabelli Funds LLC Buys 74,933 Shares of Tredegar Corporation $TG

Gabelli Funds LLC raised its position in shares of Tredegar Corporation (NYSE:TG) by 6.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,168,548 shares of the basic materials company’s stock after purchasing an additional 74,933 shares during the quarter. Gabelli Funds LLC’s holdings in Tredegar were worth $9,383,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL boosted its stake in shares of Tredegar by 1.7% in the 3rd quarter. Gamco Investors INC. ET AL now owns 5,990,851 shares of the basic materials company’s stock valued at $48,107,000 after purchasing an additional 97,444 shares during the last quarter. Teton Advisors LLC bought a new position in Tredegar during the third quarter worth $972,000. GSA Capital Partners LLP bought a new position in Tredegar during the third quarter worth $394,000. Vanguard Group Inc. lifted its holdings in Tredegar by 8.4% in the third quarter. Vanguard Group Inc. now owns 1,512,840 shares of the basic materials company’s stock valued at $12,148,000 after buying an additional 117,298 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Tredegar by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 83,787 shares of the basic materials company’s stock valued at $673,000 after buying an additional 4,288 shares during the period. Institutional investors own 79.24% of the company’s stock.

Wall Street Analysts Forecast Growth

TG has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Tredegar from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tredegar in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Tredegar Stock Down 2.5%

NYSE:TG opened at $8.83 on Monday. Tredegar Corporation has a twelve month low of $6.25 and a twelve month high of $9.66. The company has a fifty day moving average of $8.47 and a 200-day moving average of $7.96. The firm has a market capitalization of $308.26 million, a P/E ratio of -5.59 and a beta of 0.63.

Insiders Place Their Bets

In other news, major shareholder James T. Gottwald sold 28,787 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $8.99, for a total transaction of $258,795.13. Following the transaction, the insider owned 541,446 shares of the company’s stock, valued at $4,867,599.54. This represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder John D. Gottwald sold 4,814 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $9.02, for a total value of $43,422.28. Following the completion of the sale, the insider owned 524,624 shares of the company’s stock, valued at approximately $4,732,108.48. This represents a 0.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 390,991 shares of company stock worth $3,451,532. 5.80% of the stock is currently owned by company insiders.

About Tredegar

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.