Louisiana State Employees Retirement System bought a new stake in Tredegar Co. (NYSE:TG – Get 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
Tredegar (NYSE:TG – Get 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%.
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.
- Get a free copy of the StockNews.com research report on Tredegar (TG)
- MarketBeat: Week in Review 01/09-01/13
- JPMorgan Chase Falls As Banks Brace For Recession
- Why is the Bed Bath & Beyond Stock Price up 261%?
- Roku Stock Price is Trending, Here’s Why
- Carvana Stock Rally, Here’s What You Need to Know
Receive News & Ratings for Tredegar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tredegar and related companies with MarketBeat.com's FREE daily email newsletter.