Gamco Investors INC. ET AL Acquires 161,971 Shares of 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 increased its stake in shares of Tredegar Corporation (NYSE:TG - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,785,780 shares of the basic materials company's stock after buying 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.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Tredegar by 1,131.8% during the 1st quarter. GAMMA Investing LLC now owns 10,495 shares of the basic materials company's stock worth $81,000 after buying an additional 9,643 shares in the last quarter. Northern Trust Corp lifted its position in Tredegar by 3.8% during the 4th 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. JPMorgan Chase & Co. lifted its position in Tredegar by 100.3% during the 4th quarter. JPMorgan Chase & Co. now owns 136,663 shares of the basic materials company's stock worth $1,050,000 after buying an additional 68,423 shares in the last quarter. Bank of America Corp DE lifted its position in Tredegar by 691.9% during the 4th 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. Finally, Deutsche Bank AG lifted its position in Tredegar by 33.3% during the 4th 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. Institutional investors and hedge funds own 79.24% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at Tredegar

In other news, major shareholder John D. Gottwald sold 9,118 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $8.68, for a total transaction of $79,144.24. Following the completion of the transaction, the insider directly owned 789,097 shares of the company's stock, valued at $6,849,361.96. This trade represents a 1.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 stock was sold at an average price of $8.43, for a total transaction of $59,439.93. Following the transaction, the insider directly owned 781,508 shares of the company's stock, valued at $6,588,112.44. This 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 ninety days. Company insiders own 5.95% of the company's stock.

Tredegar Trading Up 0.5%

Shares of NYSE:TG traded up $0.04 during mid-day trading on Friday, reaching $7.84. The stock had a trading volume of 56,821 shares, compared to its average volume of 92,826. The firm has a market cap of $273.56 million, a PE ratio of -4.15 and a beta of 0.83. The firm has a 50 day simple moving average of $8.46 and a two-hundred 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 EPS for the quarter. The firm had revenue of $180.50 million for the quarter. Tredegar had a negative net margin of 9.51% and a positive return on equity of 4.17%.

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.