Louisiana State Employees Retirement System Buys Shares of 12,000 Tredegar Co. (NYSE:TG)

Louisiana State Employees Retirement System bought a new stake in Tredegar Co. (NYSE:TGGet Rating) during the third quarter, Holdings Channel.com reports. The firm bought 12,000 shares of the basic materials company’s stock, valued at approximately $113,000.

A number of other hedge funds have also recently added to or reduced their stakes in TG. Captrust Financial Advisors boosted its position in Tredegar by 111.0% in the first quarter. Captrust Financial Advisors now owns 3,977 shares of the basic materials company’s stock valued at $48,000 after buying an additional 2,092 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Tredegar by 70.7% during the second quarter. Lazard Asset Management LLC now owns 6,560 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 2,717 shares during the last quarter. Gladius Capital Management LP bought a new position in shares of Tredegar during the second quarter valued at $66,000. Brandywine Global Investment Management LLC bought a new position in shares of Tredegar during the second quarter valued at $101,000. Finally, MetLife Investment Management LLC raised its stake in shares of Tredegar by 64.1% during the first quarter. MetLife Investment Management LLC now owns 12,857 shares of the basic materials company’s stock valued at $154,000 after acquiring an additional 5,022 shares during the last quarter. Institutional investors and hedge funds own 61.82% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Tredegar from a “buy” rating to a “hold” rating in a research note on Monday, November 14th.

Tredegar Price Performance

TG stock opened at $11.80 on Friday. The company has a fifty day moving average price of $10.60 and a 200-day moving average price of $10.41. The company has a market capitalization of $401.21 million, a P/E ratio of 7.42 and a beta of 0.90. Tredegar Co. has a 52-week low of $9.43 and a 52-week high of $13.15. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.84 and a current ratio of 1.53.

Tredegar (NYSE:TGGet Rating) last released its quarterly earnings results on Wednesday, November 9th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter. Tredegar had a net margin of 5.53% and a return on equity of 22.05%. The firm had revenue of $238.49 million during the quarter.

Tredegar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, January 1st. Investors of record on Friday, December 16th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend was Thursday, December 15th. Tredegar’s dividend payout ratio is presently 32.70%.

About Tredegar

(Get Rating)

Tredegar Corporation, through its subsidiaries, manufactures and sells aluminum extrusions, polyethylene (PE) films, 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-alloy and medium-strength 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 fabricated aluminum extrusions to fabricators and distributors.

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Institutional Ownership by Quarter for Tredegar (NYSE:TG)

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