Tredegar Corporation $TG Stock Position Increased by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its position in Tredegar Corporation (NYSE:TG) by 112.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,411 shares of the basic materials company’s stock after buying an additional 44,224 shares during the period. Ritholtz Wealth Management owned approximately 0.24% of Tredegar worth $734,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Tredegar by 1,131.8% in the 1st quarter. GAMMA Investing LLC now owns 10,495 shares of the basic materials company’s stock worth $81,000 after buying an additional 9,643 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Tredegar by 25.9% in the 1st quarter. MetLife Investment Management LLC now owns 15,268 shares of the basic materials company’s stock worth $118,000 after buying an additional 3,145 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of Tredegar in the 1st quarter worth $131,000. AQR Capital Management LLC raised its stake in shares of Tredegar by 31.4% in the 1st quarter. AQR Capital Management LLC now owns 17,158 shares of the basic materials company’s stock worth $132,000 after buying an additional 4,097 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Tredegar in the 1st quarter worth $144,000. Institutional investors own 79.24% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder William M. Gottwald sold 16,087 shares of Tredegar stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $8.01, for a total transaction of $128,856.87. Following the transaction, the insider owned 759,810 shares in the company, valued at approximately $6,086,078.10. The trade was a 2.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder John D. Gottwald sold 16,086 shares of Tredegar stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $8.01, for a total value of $128,848.86. Following the transaction, the insider owned 759,811 shares in the company, valued at $6,086,086.11. This represents a 2.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,485 shares of company stock worth $577,626 in the last quarter. 5.95% of the stock is currently owned by corporate insiders.

Tredegar Stock Down 0.9%

Shares of Tredegar stock opened at $7.31 on Friday. The stock’s fifty day moving average is $7.77 and its 200-day moving average is $8.11. The firm has a market capitalization of $255.07 million, a PE ratio of -3.87 and a beta of 0.78. Tredegar Corporation has a 12-month low of $6.45 and a 12-month high of $9.43.

Tredegar (NYSE:TG) last announced its earnings results on Friday, August 8th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter. Tredegar had a positive return on equity of 4.17% and a negative net margin of 9.51%.The company had revenue of $180.50 million for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tredegar in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Tredegar presently has a consensus rating of “Sell”.

Tredegar Profile

Tredegar Corporation manufactures and sells aluminum extrusions, polyethylene (PE) films, and plastic and polyester films in the United States and internationally. It operates through three segments: Aluminum Extrusions, PE Films, and Flexible Packaging Films. The Aluminum Extrusions segment produces soft and medium strength alloyed aluminum extrusions, custom fabricated and finished aluminum extrusions for the building and construction, automotive and transportation, consumer durables, machinery and equipment, electrical and renewable energy, and distribution markets; and manufactures mill, anodized, and painted and alloyed aluminum extrusions to fabricators and distributors.