BlackRock Inc. Purchases New Position in Tredegar Corporation $TG

Key Points

• BlackRock acquired 2.41 million Tredegar shares worth approximately $19.2 million, giving it a 6.87% stake. Institutional investors and hedge funds collectively own 79.24% of the company.
• Tredegar holds a consensus “Hold” rating; Weiss Ratings recently improved its assessment from “hold (c-)” to “hold (c).” Meanwhile, insiders sold 138,374 shares worth about $1.12 million over the past 90 days.
• Tredegar shares opened at $7.66, compared with a 52-week range of $6.25 to $10.53. The company reported quarterly EPS of $0.18 on revenue of $216.24 million, up from $0.05 EPS in the same period a year earlier.

BlackRock Inc. purchased a new stake in Tredegar Corporation (NYSE:TG - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,405,863 shares of the basic materials company's stock, valued at approximately $19,151,000. BlackRock Inc. owned 6.87% of Tredegar at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC boosted 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 valued at $132,000 after purchasing an additional 4,097 shares in the last quarter. Jane Street Group LLC bought a new stake in Tredegar during the first quarter worth about $144,000. Geode Capital Management LLC grew its stake in Tredegar by 0.3% during the second quarter. Geode Capital Management LLC now owns 589,275 shares of the basic materials company's stock worth $5,187,000 after buying an additional 1,506 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Tredegar by 4.8% during the second quarter. Rhumbline Advisers now owns 44,096 shares of the basic materials company's stock worth $388,000 after buying an additional 2,021 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Tredegar by 225.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,889 shares of the basic materials company's stock worth $61,000 after buying an additional 4,771 shares in the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Tredegar from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 21st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Tredegar currently has a consensus rating of "Hold".

Insider Buying and Selling at Tredegar

In other news, major shareholder William M. Gottwald sold 20,145 shares of Tredegar stock in a transaction on Friday, June 12th. The stock was sold at an average price of $8.16, for a total value of $164,383.20. Following the completion of the sale, the insider directly owned 408,767 shares of the company's stock, valued at approximately $3,335,538.72. This trade represents a 4.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James T. Gottwald sold 15,808 shares of Tredegar stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $8.04, for a total value of $127,096.32. Following the completion of the sale, the insider directly owned 435,065 shares of the company's stock, valued at $3,497,922.60. This trade represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 138,374 shares of company stock worth $1,119,745. Insiders own 2.50% of the company's stock.

Tredegar Stock Performance

Shares of NYSE TG opened at $7.66 on Friday. Tredegar Corporation has a 1-year low of $6.25 and a 1-year high of $10.53. The company has a 50-day moving average of $7.74 and a two-hundred day moving average of $8.17. The company has a market cap of $267.64 million, a PE ratio of 7.98 and a beta of 0.76.

Tredegar (NYSE:TG - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The basic materials company reported $0.18 EPS for the quarter. The business had revenue of $216.24 million for the quarter. Tredegar had a net margin of 4.26% and a return on equity of 14.52%. During the same period last year, the company earned $0.05 earnings per share.

About Tredegar

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.

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