Tredegar (NYSE:TG) Releases Earnings Results

Tredegar (NYSE:TG) announced its quarterly earnings data on Wednesday. The basic materials company reported $0.32 earnings per share for the quarter, FiscalAI reports. The business had revenue of $184.07 million for the quarter. Tredegar had a negative net margin of 7.75% and a positive return on equity of 8.64%.

Tredegar Trading Down 7.9%

Shares of NYSE:TG opened at $7.75 on Thursday. The firm has a 50 day simple moving average of $8.52 and a 200-day simple moving average of $7.97. Tredegar has a twelve month low of $6.25 and a twelve month high of $9.66. The company has a market capitalization of $270.38 million, a PE ratio of -4.90 and a beta of 0.63.

Insider Activity at Tredegar

In other Tredegar news, major shareholder James T. Gottwald sold 28,787 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $8.99, for a total value of $258,795.13. Following the completion of the transaction, the insider owned 541,446 shares in the company, valued at $4,867,599.54. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder John D. Gottwald sold 54,268 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $8.70, for a total value of $472,131.60. Following the transaction, the insider directly owned 665,816 shares in the company, valued at approximately $5,792,599.20. The trade was a 7.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 390,991 shares of company stock valued at $3,451,532 in the last ninety days. Insiders own 5.95% of the company’s stock.

Institutional Trading of Tredegar

Several institutional investors and hedge funds have recently made changes to their positions in TG. Russell Investments Group Ltd. boosted its position in shares of Tredegar by 531.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,376 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 2,841 shares during the period. Torren Management LLC acquired a new position in Tredegar during the fourth quarter worth approximately $32,000. BNP Paribas Financial Markets increased its position in Tredegar by 53.2% during the third quarter. BNP Paribas Financial Markets now owns 5,273 shares of the basic materials company’s stock worth $42,000 after buying an additional 1,830 shares during the period. Tower Research Capital LLC TRC lifted its stake in 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 buying an additional 4,771 shares during the last quarter. Finally, Heron Bay Capital Management acquired a new stake in shares of Tredegar in the fourth quarter valued at approximately $76,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TG shares. Wall Street Zen raised Tredegar from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tredegar in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

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.