Rhumbline Advisers Decreases Stock Holdings in Tredegar Corporation $TG

Rhumbline Advisers cut its holdings in Tredegar Corporation (NYSE:TG) by 4.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,075 shares of the basic materials company’s stock after selling 2,178 shares during the quarter. Rhumbline Advisers owned about 0.12% of Tredegar worth $324,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nuveen LLC acquired a new stake in shares of Tredegar in the first quarter worth approximately $1,854,000. Gamco Investors INC. ET AL raised its holdings in shares of Tredegar by 2.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 5,785,780 shares of the basic materials company’s stock valued at $44,551,000 after buying an additional 161,971 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Tredegar by 190.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 217,954 shares of the basic materials company’s stock worth $1,678,000 after purchasing an additional 142,822 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Tredegar by 23.6% during the 1st quarter. American Century Companies Inc. now owns 622,012 shares of the basic materials company’s stock worth $4,789,000 after acquiring an additional 118,946 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Tredegar in the 1st quarter valued at about $509,000. 79.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder John D. Gottwald sold 7,168 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $8.43, for a total transaction of $60,426.24. Following the completion of the sale, the insider directly owned 781,507 shares in the company, valued at $6,588,104.01. This trade represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder William M. Gottwald sold 7,051 shares of Tredegar stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $8.43, for a total value of $59,439.93. Following the completion of the transaction, the insider owned 781,508 shares of the company’s stock, valued at $6,588,112.44. This trade represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,498 shares of company stock valued at $241,336 over the last 90 days. Insiders own 5.95% of the company’s stock.

Tredegar Stock Down 0.3%

TG opened at $8.00 on Thursday. The company has a market cap of $278.97 million, a PE ratio of -4.23 and a beta of 0.82. The business has a 50 day moving average price of $8.08 and a two-hundred day moving average price of $8.08. Tredegar Corporation has a 52 week low of $6.45 and a 52 week high of $9.43.

Tredegar (NYSE:TG) last released its quarterly earnings results on Friday, August 8th. The basic materials company reported $0.05 earnings per share for the quarter. Tredegar had a positive return on equity of 4.17% and a negative net margin of 9.51%.The business had revenue of $180.50 million for the quarter.

Tredegar 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.