London Co. of Virginia reduced its stake in shares of Tredegar Co. (NYSE:TG) by 13.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 467,863 shares of the basic materials company’s stock after selling 75,508 shares during the period. London Co. of Virginia owned 1.41% of Tredegar worth $7,420,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of Tredegar by 3.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 471,487 shares of the basic materials company’s stock valued at $11,080,000 after buying an additional 16,646 shares in the last quarter. Bank of Montreal Can grew its holdings in Tredegar by 4,156.3% during the 3rd quarter. Bank of Montreal Can now owns 31,837 shares of the basic materials company’s stock valued at $691,000 after purchasing an additional 31,089 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Tredegar by 636.5% during the 3rd quarter. Acadian Asset Management LLC now owns 27,332 shares of the basic materials company’s stock valued at $591,000 after purchasing an additional 23,621 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Tredegar by 7.6% during the 3rd quarter. Wells Fargo & Company MN now owns 50,781 shares of the basic materials company’s stock valued at $1,100,000 after purchasing an additional 3,580 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in Tredegar by 81.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 24,803 shares of the basic materials company’s stock valued at $537,000 after purchasing an additional 11,096 shares during the last quarter. Institutional investors and hedge funds own 65.66% of the company’s stock.
Several brokerages recently commented on TG. ValuEngine upgraded shares of Tredegar from a “sell” rating to a “hold” rating in a report on Saturday, February 2nd. TheStreet downgraded shares of Tredegar from a “b-” rating to a “c-” rating in a report on Thursday, November 15th.
Shares of NYSE:TG opened at $16.76 on Friday. The stock has a market cap of $566.98 million, a P/E ratio of 14.24 and a beta of 1.01. Tredegar Co. has a 12 month low of $14.85 and a 12 month high of $26.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.02 and a current ratio of 1.55.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.44 annualized dividend and a yield of 2.63%.
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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 AquiDry and AquiDry Plus brands.
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