Gamco Investors INC. ET AL Has $44.55 Million Stock Position in Tredegar Corporation $TG

Key Points

• Gamco Investors INC. ET AL increased its holdings in Tredegar Corporation by 2.9% during the first quarter, acquiring an additional 161,971 shares and now owning approximately 16.69% of the company valued at $44.5 million.
• Other hedge funds also modified their stakes, with Bank of America significantly raising its holdings by 691.9%, resulting in a total ownership of nearly 2.9 million shares worth over $22 million.
• Tredegar's stock price has decreased by 2.2% recently, with the current trading price at $7.7450 and a market capitalization of $270.22 million.

Gamco Investors INC. ET AL boosted its position in Tredegar Corporation (NYSE:TG - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,785,780 shares of the basic materials company's stock after acquiring an additional 161,971 shares during the period. Gamco Investors INC. ET AL owned 16.69% of Tredegar worth $44,551,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new position in Tredegar in the first quarter valued at about $46,000. Occudo Quantitative Strategies LP acquired a new position in Tredegar in the fourth quarter valued at about $78,000. Price T Rowe Associates Inc. MD acquired a new position in Tredegar in the fourth quarter valued at about $80,000. GAMMA Investing LLC lifted its stake in 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 buying an additional 9,643 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in Tredegar by 25.9% in the first quarter. MetLife Investment Management LLC now owns 15,268 shares of the basic materials company's stock valued at $118,000 after buying an additional 3,145 shares during the period. Institutional investors own 79.24% of the company's stock.

Analyst Ratings Changes

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

Tredegar Trading Up 1.1%

Shares of NYSE TG traded up $0.09 during mid-day trading on Thursday, reaching $7.79. 54,936 shares of the company's stock were exchanged, compared to its average volume of 98,055. The firm has a market capitalization of $271.62 million, a price-to-earnings ratio of -4.12 and a beta of 0.83. The business has a fifty day simple moving average of $8.47 and a 200 day simple moving average of $8.06. Tredegar Corporation has a twelve month low of $5.86 and a twelve month high of $9.43.

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

Insider Activity at Tredegar

In related news, major shareholder John D. Gottwald sold 9,118 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $8.68, for a total transaction of $79,144.24. Following the transaction, the insider directly owned 789,097 shares of the company's stock, valued at approximately $6,849,361.96. The trade was a 1.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder William M. Gottwald sold 7,051 shares of the business's stock in a transaction 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 completion of the sale, the insider owned 781,508 shares of the company's stock, valued at $6,588,112.44. This trade represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,298 shares of company stock valued at $207,169 over the last quarter. 5.95% of the stock is currently owned by corporate insiders.

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.