Nuveen LLC Purchases New Position in Tredegar Corporation $TG

Key Points

• Nuveen LLC has acquired a new position in Tredegar Corporation, purchasing 240,720 shares valued at approximately $1.85 million, representing 0.69% of the company.
• Tredegar's current market capitalization is approximately $273.54 million, with shares trading at $7.84 and a PE ratio of -4.15.
• Insider sales have been noted, with major shareholders John D. Gottwald and William M. Gottwald each selling over 7,000 shares at an average price of $8.43.

Nuveen LLC purchased a new stake in Tredegar Corporation (NYSE:TG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 240,720 shares of the basic materials company's stock, valued at approximately $1,854,000. Nuveen LLC owned approximately 0.69% of Tredegar at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TG. Wells Fargo & Company MN increased its stake in Tredegar by 25.2% in the fourth quarter. Wells Fargo & Company MN now owns 15,935 shares of the basic materials company's stock valued at $122,000 after purchasing an additional 3,204 shares in the last quarter. Barclays PLC increased its position in shares of Tredegar by 1.1% during the fourth quarter. Barclays PLC now owns 135,241 shares of the basic materials company's stock worth $1,038,000 after acquiring an additional 1,414 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Tredegar by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,109,365 shares of the basic materials company's stock worth $8,520,000 after acquiring an additional 3,403 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Tredegar during the fourth quarter worth about $80,000. Finally, Northern Trust Corp increased its position in shares of 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 acquiring an additional 8,459 shares in the last quarter. 79.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder William M. Gottwald sold 7,051 shares of the 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder John D. Gottwald sold 9,118 shares of the 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 transaction, the insider directly owned 789,097 shares of the company's stock, valued at $6,849,361.96. This represents a 1.14% 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 three months. Insiders own 5.80% of the company's stock.

Wall Street Analyst Weigh In

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

Tredegar Stock Up 0.5%

TG stock traded up $0.04 during trading on Monday, reaching $7.84. The stock had a trading volume of 56,821 shares, compared to its average volume of 89,427. Tredegar Corporation has a one year low of $5.86 and a one year high of $9.43. The company's 50 day moving average is $8.44 and its two-hundred day moving average is $8.06. 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 issued its quarterly earnings data on Friday, August 8th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter. Tredegar had a negative net margin of 9.51% and a positive return on equity of 4.17%. The business had revenue of $180.50 million during 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.