Tredegar (NYSE:TG) Releases Quarterly Earnings Results

Tredegar (NYSE:TG) released its earnings results on Friday. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $216.24 million for the quarter. Tredegar had a net margin of 3.89% and a return on equity of 12.91%. During the same period in the prior year, the business posted $0.05 earnings per share.

Tredegar Stock Performance

Shares of NYSE:TG traded up $1.05 during mid-day trading on Friday, hitting $8.80. 529,716 shares of the company traded hands, compared to its average volume of 168,769. The firm’s 50 day simple moving average is $7.73 and its 200 day simple moving average is $8.28. The firm has a market cap of $308.25 million, a P/E ratio of 10.48 and a beta of 0.76. Tredegar has a 52-week low of $6.25 and a 52-week high of $10.53.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Tredegar from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Tredegar has a consensus rating of “Hold”.

Insider Buying and Selling at Tredegar

In other news, major shareholder John D. Gottwald sold 20,146 shares of Tredegar stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $8.16, for a total transaction of $164,391.36. Following the sale, the insider owned 408,767 shares in the company, valued at $3,335,538.72. This trade represents a 4.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder William M. Gottwald sold 20,145 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $8.16, for a total transaction of $164,383.20. Following the completion of the transaction, the insider owned 408,767 shares of the company’s stock, valued at $3,335,538.72. This trade represents a 4.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 153,338 shares of company stock valued at $1,236,609 over the last 90 days. 2.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tredegar

Hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its position in shares of Tredegar by 531.0% during the third quarter. Russell Investments Group Ltd. now owns 3,376 shares of the basic materials company’s stock worth $27,000 after buying an additional 2,841 shares in the last quarter. Torren Management LLC acquired a new position in Tredegar during the 4th quarter worth $32,000. BNP Paribas Financial Markets increased its position in shares of Tredegar by 53.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,273 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 1,830 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Tredegar by 225.3% in the 2nd 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. Finally, Heron Bay Capital Management bought a new position in shares of Tredegar during the fourth quarter worth about $76,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

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.