Janney Montgomery Scott LLC Makes New $413,000 Investment in Tredegar Corporation $TG

Key Points

• Janney Montgomery Scott LLC has invested approximately $413,000 in Tredegar Corporation by acquiring 46,974 shares during the second quarter.
• Institutional investors and hedge funds collectively own 79.24% of Tredegar's stock, indicating strong institutional interest.
• Tredegar has received a "sell" rating from Weiss Ratings, reflecting a generally negative outlook from analysts on the stock's performance.

Janney Montgomery Scott LLC bought a new stake in shares of Tredegar Corporation (NYSE:TG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 46,974 shares of the basic materials company's stock, valued at approximately $413,000. Janney Montgomery Scott LLC owned about 0.13% of Tredegar at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TG. GAMMA Investing LLC raised its holdings in shares of Tredegar by 1,131.8% during 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 during the last quarter. MetLife Investment Management LLC raised its holdings in shares of Tredegar by 25.9% during the first quarter. MetLife Investment Management LLC now owns 15,268 shares of the basic materials company's stock valued at $118,000 after acquiring an additional 3,145 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of Tredegar during the first quarter valued at approximately $131,000. AQR Capital Management LLC raised its holdings in shares of Tredegar by 31.4% during the first quarter. AQR Capital Management LLC now owns 17,158 shares of the basic materials company's stock valued at $132,000 after acquiring an additional 4,097 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Tredegar during the first quarter valued at approximately $144,000. Institutional investors and hedge funds own 79.24% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Tredegar in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of "Sell".

Tredegar Stock Down 0.9%

TG opened at $7.31 on Friday. Tredegar Corporation has a 52 week low of $6.45 and a 52 week high of $9.43. The business has a fifty day simple moving average of $7.77 and a 200-day simple moving average of $8.11. The firm has a market cap of $255.07 million, a P/E ratio of -3.87 and a beta of 0.78.

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

Insiders Place Their Bets

In other Tredegar news, major shareholder William M. Gottwald sold 16,087 shares of Tredegar stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $8.01, for a total transaction of $128,856.87. Following the completion of the sale, the insider directly owned 759,810 shares of the company's stock, valued at $6,086,078.10. The trade was a 2.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder John D. Gottwald sold 16,086 shares of Tredegar stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $8.01, for a total value of $128,848.86. Following the sale, the insider directly owned 759,811 shares of the company's stock, valued at $6,086,086.11. This trade represents a 2.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,485 shares of company stock valued at $577,626. 5.95% of the stock is currently owned by company insiders.

About Tredegar

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.

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