American Century Companies Inc. Acquires 118,946 Shares of Tredegar Corporation $TG

Key Points

• American Century Companies Inc. has increased its holdings in Tredegar Corporation by 23.6%, now owning 622,012 shares worth approximately $4.79 million.
• Tredegar's stock experienced a modest increase of 0.5%, trading at $7.84 with a market capitalization of $273.54 million.
• Wall Street analysts downgraded Tredegar's shares from a "buy" rating to a "hold" rating, reflecting cautious outlook on the company.

American Century Companies Inc. boosted its stake in Tredegar Corporation (NYSE:TG - Free Report) by 23.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 622,012 shares of the basic materials company's stock after buying an additional 118,946 shares during the period. American Century Companies Inc. owned approximately 1.79% of Tredegar worth $4,789,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Central Pacific Bank Trust Division bought a new position in shares of Tredegar during the first quarter valued at $46,000. Occudo Quantitative Strategies LP bought a new position in Tredegar during the fourth quarter worth $78,000. Price T Rowe Associates Inc. MD bought a new position in Tredegar during the fourth quarter worth $80,000. GAMMA Investing LLC raised its stake in Tredegar by 1,131.8% during the first 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 during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Tredegar by 25.2% during the fourth quarter. Wells Fargo & Company MN now owns 15,935 shares of the basic materials company's stock worth $122,000 after buying an additional 3,204 shares during the last quarter. Institutional investors and hedge funds own 79.24% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Tredegar from a "buy" rating to a "hold" rating in a research note on Friday, May 9th.

Insider Activity at Tredegar

In other news, major shareholder John D. Gottwald sold 7,168 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $8.43, for a total value of $60,426.24. Following the transaction, the insider owned 781,507 shares of the company's stock, valued at $6,588,104.01. This represents a 0.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder William M. Gottwald sold 7,051 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $8.43, for a total transaction of $59,439.93. Following the completion of the transaction, the insider directly owned 781,508 shares in the company, valued at $6,588,112.44. The trade was a 0.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,298 shares of company stock worth $207,169 over the last quarter. Corporate insiders own 5.80% of the company's stock.

Tredegar Stock Performance

TG stock traded up $0.04 during mid-day trading on Monday, hitting $7.84. The company had a trading volume of 56,821 shares, compared to its average volume of 89,427. The firm has a market cap of $273.54 million, a PE ratio of -4.15 and a beta of 0.82. Tredegar Corporation has a 12 month low of $5.86 and a 12 month high of $9.43. The stock's fifty day moving average price is $8.44 and its two-hundred day moving average price is $8.06.

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

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.