Gabelli Funds LLC Acquires 34,800 Shares of Tredegar Corporation $TG

Key Points

• Gabelli Funds LLC increased its stake in Tredegar Corporation by 3.3%, owning over 1 million shares worth approximately $8.4 million as of the latest reporting period.
• 79.24% of Tredegar's stock is held by institutional investors, reflecting a significant interest from hedge funds and similar entities.
• Tredegar's stock has seen a slight decline of 0.9%, with current trading around $7.70 and a 52-week range between $5.86 and $9.43.

Gabelli Funds LLC lifted its holdings in Tredegar Corporation (NYSE:TG - Free Report) by 3.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,097,215 shares of the basic materials company's stock after acquiring an additional 34,800 shares during the period. Gabelli Funds LLC owned approximately 3.17% of Tredegar worth $8,449,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Tredegar by 1,131.8% in the first quarter. GAMMA Investing LLC now owns 10,495 shares of the basic materials company's stock valued at $81,000 after acquiring an additional 9,643 shares in the last quarter. Northern Trust Corp grew its stake in Tredegar by 3.8% during the fourth quarter. Northern Trust Corp now owns 233,068 shares of the basic materials company's stock worth $1,790,000 after buying an additional 8,459 shares in the last quarter. Bank of America Corp DE grew its stake in Tredegar by 691.9% during the fourth quarter. Bank of America Corp DE now owns 2,893,980 shares of the basic materials company's stock worth $22,226,000 after buying an additional 2,528,530 shares in the last quarter. Deutsche Bank AG grew its stake in Tredegar by 33.3% during the fourth quarter. Deutsche Bank AG now owns 26,872 shares of the basic materials company's stock worth $206,000 after buying an additional 6,719 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Tredegar during the fourth quarter worth about $80,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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 Buying and Selling

In other news, major shareholder John D. Gottwald sold 7,168 shares of the firm's 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 $60,426.24. Following the sale, the insider directly owned 781,507 shares in the company, valued at approximately $6,588,104.01. This trade represents a 0.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder William M. Gottwald sold 7,051 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $8.43, for a total transaction of $59,439.93. Following the completion of the sale, the insider owned 781,508 shares in the company, valued at approximately $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. Over the last 90 days, insiders sold 24,298 shares of company stock worth $207,169. 5.80% of the stock is currently owned by corporate insiders.

Tredegar Stock Performance

Shares of TG traded up $0.04 during mid-day trading on Monday, reaching $7.84. The company had a trading volume of 56,821 shares, compared to its average volume of 89,427. The company's 50 day simple moving average is $8.46 and its 200 day simple moving average is $8.06. Tredegar Corporation has a 1-year low of $5.86 and a 1-year high of $9.43. The company has a market capitalization of $273.54 million, a price-to-earnings ratio of -4.15 and a beta of 0.82.

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

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.