American Century Companies Inc. Sells 98,304 Shares of Tredegar Corporation $TG

American Century Companies Inc. lowered its stake in shares of Tredegar Corporation (NYSE:TG) by 15.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 523,708 shares of the basic materials company’s stock after selling 98,304 shares during the period. American Century Companies Inc. owned approximately 1.50% of Tredegar worth $4,609,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Atria Wealth Solutions Inc. purchased a new position in shares of Tredegar during the first quarter valued at approximately $131,000. Charles Schwab Investment Management Inc. boosted its holdings in Tredegar by 190.1% in the first 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 during the last quarter. Nuveen LLC bought a new stake in Tredegar in the 1st quarter worth approximately $1,854,000. MetLife Investment Management LLC raised its stake in Tredegar by 25.9% during the 1st quarter. MetLife Investment Management LLC now owns 15,268 shares of the basic materials company’s stock valued at $118,000 after buying an additional 3,145 shares during the last quarter. Finally, Gabelli Funds LLC raised its stake in Tredegar by 3.3% during the 1st quarter. Gabelli Funds LLC now owns 1,097,215 shares of the basic materials company’s stock valued at $8,449,000 after buying an additional 34,800 shares during the last quarter. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder William M. Gottwald sold 16,087 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $8.01, for a total value of $128,856.87. Following the completion of the sale, the insider directly owned 759,810 shares of the company’s stock, valued at $6,086,078.10. This represents a 2.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder James T. Gottwald sold 9,997 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $8.52, for a total transaction of $85,174.44. Following the sale, the insider owned 744,949 shares in the company, valued at $6,346,965.48. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 92,968 shares of company stock worth $769,370 over the last three months. 5.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on TG. Weiss Ratings restated a “sell (d-)” rating on shares of Tredegar in a research note on Wednesday, October 8th. Wall Street Zen raised Tredegar from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Tredegar presently has a consensus rating of “Sell”.

Tredegar Stock Down 3.2%

Shares of TG opened at $7.55 on Monday. Tredegar Corporation has a 52 week low of $6.25 and a 52 week high of $9.43. The stock has a market cap of $263.50 million, a price-to-earnings ratio of -4.78 and a beta of 0.76. The business has a 50-day simple moving average of $7.61 and a two-hundred day simple moving average of $8.10.

Tredegar (NYSE:TG) last released its earnings results on Friday, November 7th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter. Tredegar had a negative net margin of 7.75% and a positive return on equity of 8.64%. The company had revenue of $194.94 million during the quarter.

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.