Several other institutional investors and hedge funds also recently added to or reduced their stakes in TG. California Public Employees Retirement System boosted its stake in Tredegar by 14.6% in the third quarter. California Public Employees Retirement System now owns 36,625 shares of the basic materials company’s stock valued at $715,000 after acquiring an additional 4,679 shares during the last quarter. State of Tennessee Treasury Department raised its holdings in Tredegar by 36.6% in the third quarter. State of Tennessee Treasury Department now owns 28,778 shares of the basic materials company’s stock worth $562,000 after purchasing an additional 7,714 shares during the period. Heritage Wealth Advisors raised its holdings in Tredegar by 5.3% in the third quarter. Heritage Wealth Advisors now owns 16,996 shares of the basic materials company’s stock worth $331,000 after purchasing an additional 849 shares during the period. Rhumbline Advisers raised its holdings in Tredegar by 5.4% in the third quarter. Rhumbline Advisers now owns 87,431 shares of the basic materials company’s stock worth $1,707,000 after purchasing an additional 4,451 shares during the period. Finally, Meeder Asset Management Inc. raised its holdings in Tredegar by 20.1% in the third quarter. Meeder Asset Management Inc. now owns 6,438 shares of the basic materials company’s stock worth $125,000 after purchasing an additional 1,077 shares during the period. 64.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:TG opened at $21.53 on Friday. Tredegar Co. has a 12 month low of $14.85 and a 12 month high of $22.77. The company has a quick ratio of 1.13, a current ratio of 1.69 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $20.63 and its 200 day simple moving average is $18.04. The firm has a market cap of $725.03 million, a price-to-earnings ratio of 16.22 and a beta of 0.99.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Thursday, December 12th.
Separately, ValuEngine lowered shares of Tredegar from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th.
Tredegar Corporation, through its subsidiaries, manufactures and sells polyethylene (PE) plastic films, polyester films, and aluminum extrusions worldwide. It operates through PE Films, Flexible Packaging Films, and Aluminum Extrusions segments. The PE Films segment offers personal care materials, such as apertured films and laminate materials for use in feminine hygiene products, baby diapers, and adult incontinence products under the ComfortAire, ComfortFeel, and FreshFeel brands; elastic materials for use as components for baby diapers, adult incontinence products, and feminine hygiene products under the ExtraFlex and FlexAire brands; and three-dimensional apertured film transfer layers for baby diapers and adult incontinence products under the AquiSoft, AquiDry, and AquiDry Plus brands.
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