Tredegar (NYSE:TG) Announces Earnings Results

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.

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

Tredegar Trading Down 1.0%

NYSE TG traded down $0.08 on Wednesday, hitting $7.55. The company's stock had a trading volume of 27,345 shares, compared to its average volume of 83,503. The firm has a market cap of $263.66 million, a P/E ratio of -3.99 and a beta of 0.83. Tredegar has a 52-week low of $5.46 and a 52-week high of $9.43. The company's 50-day simple moving average is $8.72 and its 200 day simple moving average is $8.08.

Analysts Set New Price Targets

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

Insider Activity at Tredegar

In related news, major shareholder William M. Gottwald sold 7,051 shares of the company'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 completion of the transaction, the insider owned 781,508 shares in the company, valued at $6,588,112.44. This represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder John D. Gottwald sold 9,118 shares of Tredegar stock in a transaction 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 sale, the insider owned 789,097 shares in the company, valued at approximately $6,849,361.96. This trade represents a 1.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,298 shares of company stock worth $207,169 over the last three months. Insiders own 5.80% of the company's stock.

Hedge Funds Weigh In On Tredegar

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its position in Tredegar by 4.8% during the 2nd quarter. Rhumbline Advisers now owns 44,096 shares of the basic materials company's stock valued at $388,000 after acquiring an additional 2,021 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Tredegar by 0.3% in 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. Jane Street Group LLC bought a new stake in shares of Tredegar during the first quarter valued at approximately $144,000. Finally, AQR Capital Management LLC grew its stake in Tredegar by 31.4% in the first 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 period. Hedge funds and other institutional investors own 79.24% of the company's stock.

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.