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: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

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: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%.

About Tredegar

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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.