Charles Schwab Investment Management Inc. Purchases 142,822 Shares of Tredegar Corporation $TG

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Tredegar Corporation by 190.1%, acquiring an additional 142,822 shares to own a total of 217,954 shares, valued at approximately $1.68 million.
• Other institutional investors, including Wells Fargo and Barclays, also raised their positions in Tredegar, reflecting growing interest from hedge funds, which collectively own 79.24% of the company's stock.
• Tredegar's stock recently opened at $7.84, with a market capitalization of $273.54 million, and the company reported a revenue of $180.5 million for the last quarter.

Charles Schwab Investment Management Inc. grew its holdings in shares of Tredegar Corporation (NYSE:TG - Free Report) by 190.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 217,954 shares of the basic materials company's stock after purchasing an additional 142,822 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.63% of Tredegar worth $1,678,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Central Pacific Bank Trust Division bought a new stake in shares of Tredegar during the 1st quarter worth about $46,000. Occudo Quantitative Strategies LP acquired a new stake in shares of Tredegar in the fourth quarter worth $78,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Tredegar during the 4th quarter worth $80,000. GAMMA Investing LLC grew its stake in Tredegar by 1,131.8% in the 1st quarter. GAMMA Investing LLC now owns 10,495 shares of the basic materials company's stock valued at $81,000 after buying an additional 9,643 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Tredegar by 25.2% in the 4th quarter. Wells Fargo & Company MN now owns 15,935 shares of the basic materials company's stock worth $122,000 after acquiring an additional 3,204 shares during the period. 79.24% of the stock is currently owned by institutional investors.

Tredegar Stock Performance

Shares of NYSE:TG traded down $0.27 on Tuesday, hitting $7.57. 65,034 shares of the company were exchanged, compared to its average volume of 85,354. The company's 50 day moving average price is $8.42 and its two-hundred day moving average price is $8.05. The firm has a market capitalization of $263.94 million, a price-to-earnings ratio of -4.00 and a beta of 0.82. Tredegar Corporation has a one year low of $5.86 and a one year high of $9.43.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, major shareholder John D. Gottwald sold 7,168 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $8.43, for a total value of $60,426.24. Following the completion of 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 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 7,051 shares of Tredegar stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $8.43, for a total value of $59,439.93. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,298 shares of company stock worth $207,169 in the last quarter. Corporate insiders own 5.80% of the company's stock.

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.