GAMMA Investing LLC Boosts Stake in Tredegar Corporation (NYSE:TG)

GAMMA Investing LLC grew its stake in shares of Tredegar Corporation (NYSE:TG) by 1,131.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,495 shares of the basic materials company’s stock after buying an additional 9,643 shares during the quarter. GAMMA Investing LLC’s holdings in Tredegar were worth $81,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TG. Central Pacific Bank Trust Division purchased a new position in Tredegar in the 1st quarter worth $46,000. Occudo Quantitative Strategies LP purchased a new position in Tredegar in the 4th quarter worth $78,000. Deutsche Bank AG raised its position in Tredegar by 33.3% in the 4th quarter. Deutsche Bank AG now owns 26,872 shares of the basic materials company’s stock worth $206,000 after purchasing an additional 6,719 shares during the period. CastleKnight Management LP raised its position in Tredegar by 137.5% in the 4th quarter. CastleKnight Management LP now owns 214,300 shares of the basic materials company’s stock worth $1,646,000 after purchasing an additional 124,079 shares during the period. Finally, Bank of America Corp DE raised its position in Tredegar by 691.9% in the 4th quarter. Bank of America Corp DE now owns 2,893,980 shares of the basic materials company’s stock worth $22,226,000 after purchasing an additional 2,528,530 shares during the period. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Tredegar from a “buy” rating to a “hold” rating in a research report on Friday, May 9th.

Tredegar Trading Up 3.0%

Shares of TG opened at $8.89 on Wednesday. The firm’s 50-day moving average price is $8.21 and its 200-day moving average price is $7.85. The firm has a market capitalization of $310.44 million, a price-to-earnings ratio of -5.29 and a beta of 0.82. Tredegar Corporation has a 1-year low of $4.31 and a 1-year high of $9.22.

Tredegar (NYSE:TG) last announced its quarterly earnings data on Thursday, May 8th. The basic materials company reported $0.10 earnings per share for the quarter. The business had revenue of $164.73 million for the quarter. Tredegar had a negative net margin of 8.35% and a positive return on equity of 9.28%.

About Tredegar

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.