Tredegar Corporation (NYSE:TG) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in shares of Tredegar Corporation (NYSE:TG - Free Report) by 65.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,208 shares of the basic materials company's stock after selling 50,539 shares during the quarter. Assenagon Asset Management S.A. owned 0.08% of Tredegar worth $210,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Rhumbline Advisers grew its stake in Tredegar by 3.0% in the fourth quarter. Rhumbline Advisers now owns 44,253 shares of the basic materials company's stock worth $340,000 after purchasing an additional 1,298 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Tredegar by 35.0% during the fourth quarter. American Century Companies Inc. now owns 503,066 shares of the basic materials company's stock valued at $3,864,000 after buying an additional 130,291 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Tredegar by 100.3% during the fourth quarter. JPMorgan Chase & Co. now owns 136,663 shares of the basic materials company's stock valued at $1,050,000 after buying an additional 68,423 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Tredegar by 608.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 151,269 shares of the basic materials company's stock valued at $1,162,000 after acquiring an additional 129,909 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in Tredegar by 569.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 99,167 shares of the basic materials company's stock worth $762,000 after acquiring an additional 84,363 shares during the period. 79.24% of the stock is owned by hedge funds and other institutional investors.

Tredegar Price Performance

TG stock traded up $0.26 during trading on Tuesday, hitting $8.89. 64,334 shares of the company traded hands, compared to its average volume of 97,450. Tredegar Corporation has a 1 year low of $4.31 and a 1 year high of $9.22. The stock's 50-day simple moving average is $8.18 and its 200 day simple moving average is $7.84. The company has a market cap of $310.44 million, a PE ratio of -5.29 and a beta of 0.82.

Tredegar (NYSE:TG - Get Free Report) last posted its earnings results on Thursday, May 8th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter. Tredegar had a negative net margin of 8.35% and a positive return on equity of 9.28%. The business had revenue of $164.73 million for the quarter.

Wall Street Analysts Forecast Growth

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

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.