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Tredegar (NYSE:TG) Issues Earnings Results

Tredegar logo with Basic Materials background

Key Points

  • Tredegar (NYSE:TG) reported earnings of $0.05 EPS for the quarter, along with a negative net margin of 8.35% and a positive return on equity of 9.28%.
  • The stock traded down to $8.14 on Friday, with a market capitalization of $284.25 million and a price-to-earnings ratio of -4.85.
  • Recent insider sales saw major shareholders John D. Gottwald and William M. Gottwald reduce their ownership slightly, indicating a 0.91% and 0.89% decrease in their stakes, respectively.
  • Looking to Export and Analyze Tredegar Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Tredegar (NYSE:TG - Get Free Report) posted its earnings results on Friday. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, Zacks reports. Tredegar had a negative net margin of 8.35% and a positive return on equity of 9.28%.

Tredegar Stock Performance

NYSE TG traded down $0.02 during trading on Friday, hitting $8.14. 50,532 shares of the company's stock traded hands, compared to its average volume of 76,802. Tredegar has a 12-month low of $5.30 and a 12-month high of $9.43. The stock has a market capitalization of $284.25 million, a price-to-earnings ratio of -4.85 and a beta of 0.83. The business has a 50 day moving average of $8.76 and a 200-day moving average of $8.08.

Insider Transactions at Tredegar

In related news, major shareholder John D. Gottwald sold 7,168 shares of the company'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 transaction, the insider directly owned 781,507 shares in the company, valued at approximately $6,588,104.01. This represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the insider owned 781,508 shares in the company, valued at $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 three months, insiders sold 24,298 shares of company stock worth $207,169. Insiders own 5.95% of the company's stock.

Institutional Trading of Tredegar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in shares of Tredegar by 31.4% in the 1st quarter. AQR Capital Management LLC now owns 17,158 shares of the basic materials company's stock worth $132,000 after purchasing an additional 4,097 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Tredegar during the 1st quarter valued at about $144,000. Finally, Geode Capital Management LLC grew its stake in shares of Tredegar by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 589,275 shares of the basic materials company's stock valued at $5,187,000 after purchasing an additional 1,506 shares during the period. Hedge funds and other institutional investors own 79.24% of the company's stock.

Analysts Set New Price Targets

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

View Our Latest Stock Report on Tredegar

Tredegar Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for Tredegar (NYSE:TG)

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