Assenagon Asset Management S.A. Sells 50,539 Shares of Tredegar Corporation (NYSE:TG)

Assenagon Asset Management S.A. trimmed its position in Tredegar Corporation (NYSE:TG - Free Report) by 65.0% in the first quarter, according to 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 about 0.08% of Tredegar worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Rhumbline Advisers raised its stake in Tredegar by 3.0% during the 4th quarter. Rhumbline Advisers now owns 44,253 shares of the basic materials company's stock valued at $340,000 after purchasing an additional 1,298 shares during the last quarter. Barclays PLC raised its stake in Tredegar by 1.1% during the 4th quarter. Barclays PLC now owns 135,241 shares of the basic materials company's stock valued at $1,038,000 after purchasing an additional 1,414 shares during the last quarter. Wells Fargo & Company MN raised its stake in Tredegar by 25.2% during the 4th quarter. Wells Fargo & Company MN now owns 15,935 shares of the basic materials company's stock valued at $122,000 after purchasing an additional 3,204 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Tredegar by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,109,365 shares of the basic materials company's stock valued at $8,520,000 after purchasing an additional 3,403 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in Tredegar during the 1st quarter valued at $46,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Tredegar Stock Down 1.0%

Tredegar stock traded down $0.09 on Friday, hitting $8.56. The company's stock had a trading volume of 230,535 shares, compared to its average volume of 97,558. The firm has a market cap of $298.92 million, a P/E ratio of -5.10 and a beta of 0.82. The company has a fifty day moving average price of $8.15 and a 200-day moving average price of $7.83. Tredegar Corporation has a one year low of $4.31 and a one year high of $9.22.

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

Tredegar Company 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.